Brand acquisition platform, Foundry, has raised $100 million in debt-free equity capital from LightBay Capital and Monogram Capital Partners.
The company plans to use the funding to build out a robust portfolio of omni-digital brands, hire new team members and deploy its data-driven technology platform to cultivate lasting brands.
“Our aim with Foundry is simple — we want to transform the lives of founders with a pledge to unlock the massive potential of their brands so they can achieve life-changing exits and build multiple legacies,” said Helen Vaid, CEO of Foundry.
“We are focused on building omni-digital brands that are essential to the households that buy them, and Foundry is uniquely positioned to bring the capital, the commitment and the capabilities to scale these brands beyond a founder’s wildest dreams. We operate knowing that the sum of our efforts is greater than the individual parts, and with this we envision a future where Foundry redefines the standard for how great brands are built.”
Since the start of the COVID-19 pandemic, there has been a massive acceleration toward online shopping, with global eCommerce revenue projected to reach $6.54 trillion. But even as consumers continue to embrace eCommerce shopping, many small to medium-sized businesses are still suffering due to the lack of the resources and capital to scale.
That is a market segment Foundry is seeking to help by partnering with brands that are in the $1 million to $50 million revenue bracket, across categories such as home & kitchen, pets, outdoor & fitness and beauty.
“Our team is committed to championing great founders who build brands that households can’t live without. Brands like that can be born anywhere online today, whether that is on Amazon, Shopify, Instagram or a D2C channel. Those brands simply need access to the best capabilities to thrive. What sets Foundry apart is that we are a team of seasoned operators with the talent and experience to not only identify brands with massive potential to grow across multiple channels, but also build brands that will endure the test of time. We are excited to be partnering with the LightBay and Monogram teams on this journey,” said Tom Shipley, President and Co-Founder of Foundry.
To identify and scale those brands, Foundry has created a toolkit to enhance marketing, product development as well as technology.