Material Bank, an NYC-based marketplace that sells architectural, design and construction materials, raised $175M through Series D funding.
The round, which brings total funding raised to date to more than $325m, was led by Brookfield’s technology investment arm Brookfield Growth, with participation from 9Yards Capital, Echo Street, Bain Capital Ventures, Durable Capital Partners LP, General Catalyst, BOND, Raine Ventures, Lead Edge Capital, Fifth Wall, SoftBank Vision Fund 2, and RXR.
The company plans to use these funds to build relationships with the construction and real-estate industries, benefit its partners and expand its global reach, and possibly make strategic acquisitions.
Material Bank’s CEO Adam I. Sandow is the founder and CEO. It provides a digital marketplace that allows architects and designers to search for, sample and specify materials. The platform also includes a large-scale robotic logistics facility that connects its global brand partners with its over 90,000 members. In just seconds, the platform allows complex searches to be performed across hundreds of brands. Samples ordered before midnight (ET) will be delivered in one box by 10:30 AM on the next day.
Continuing the forward momentum with Brookfield added to its exceptional roster of strategic investors, this financing will accelerate Material Bank’s execution of its mission to simplify design decisions. Additionally, the round included participation from all large investors in the Series B, C, and other rounds.