In order to jump-start brands’ growth, the business claimed its objective is to optimise them for third-party marketplaces like Amazon and Walmart as well as other channels.
The business added that it used a proprietary tool to evaluate brands according to standards including growth potential, scalability, and longevity.
“Brands like that can now be created anywhere on the internet, whether it be on Shopify, Instagram, Amazon, or a direct-to-consumer channel.
To succeed, such brands simply need to have access to the greatest resources, according to Foundry’s president and co-founder Tom Shipley.
While Foundry raises millions to maintain its platform, rivals have done the same to improve and expand their digitally native companies.
Heyday secured $70 million in Series B fundraising in May in order to expand its workforce and penetrate additional international markets.
Perch, a different online retailer that grows and acquires third-party direct-to-consumer businesses, raised $775 million in Series A funding in the same month.
Foundry Launches To Grow Enduring Omni-Digital Brands, Raises $100 Million of Long-Term Private Equity Capital
Today marks the formal launch of Foundry, the brand platform that buys, develops, and expands enduring internet businesses.
With $100 million in debt-free equity funding from LightBay Capital and Monogram Capital Partners.
The money will be utilised to deploy its data-driven technology platform intended to cultivate enduring brands.
Hire new team members, and selectively construct a comprehensive portfolio of omni-digital businesses.
With the help of this patient capital structure, Foundry is able to maximise the potential of brands and build enduring bonds with founders in order to support and further their future endeavours and legacies.
The adoption of e-commerce has significantly increased as a result of COVID-19; it is anticipated that global e-commerce revenue would exceed $6.54 trillion.
However, small and medium-sized businesses are falling behind because they lack the tools and funding necessary to grow and compete.
Conclusion
To assist these brands in winning on a global scale, Foundry has created a number of first-of-their-kind assets.
That are based on its data-driven technology platform, its data-experienced team of direct-to-consumer (“D2C”) e-commerce executives and former Amazon and Walmart executives.
And its belief that great founders can and should have a variety of liquidity options.
While continuing to engage with its entrepreneurs after the acquisition to support them in their future ambitions and goals.
Foundry is building a formidable portfolio of highly-selective brands and assisting them in overcoming the hurdles of business ownership.
