Brookfield Growth Partnership Secures $175M in Funding
Following a Series D funding round led by Brookfield Technology’s investment arm, Brookfield Growth, Material Bank, the world’s largest marketplace for architectural, design and construction materials has announced it has secured $175M in funding. This significant raise brings the company’s total funding to more than $325M.
Material Bank has stated that they intend to leverage the new capital and partnership to foster deeper relationships within the real-estate and construction industries. It will also support the company’s growing global footprint, power strategic acquisitions and allow for further investments in innovative solutions for the architecture, design, and construction industries.
Material Bank Continues to Transform the Material Design Industry
Since its 2019 launch, Material Bank has experienced extraordinary industry adoption and growth. Connecting its global brand partners to over 90,000 active members, the company has transformed the industry by removing the friction that exists when searching, sampling and specifying materials for architecture and interior design projects. According to the company, users are able to search from more than 300,000 SKUs on a single website, order samples until midnight ET, and receive all materials in a single box by 10:30 am the next morning.
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. Additional new investors 9Yards Capital and Echo Street participated in the round, as well as all of the large investors from the Series B and C rounds, including Bain Capital Ventures, Durable Capital Partners LP, General Catalyst, BOND, Raine Ventures, and Lead Edge Capital, among others.
“We have been fortunate to raise capital over the last few years from some of the best financial firms in the world, and with this raise, we turned our focus to strategic investors—and there is no better partner for our business than Brookfield given their massive holdings in real estate and related industries as well as their incredible track record of helping their portfolio companies grow,” said Adam I. Sandow, Founder and CEO of Material Bank.
“We believe that the synergies between Material Bank and Brookfield will have a material impact on the speed of our growth and provide new opportunities to help our almost 500 brand partners capture additional market share.”