D.C. custom framing startup Framebridge closed on $30 million in fresh funding, the company announced this week.
The Series C round was led by T. Rowe Price. Also participating were existing investors including SWaN & Legend Venture Partners, Revolution Ventures and NEA. It comes about a year after the company’s $16.7 million Series B, and brings the total raised to $67 million.
“Framebridge has brought innovation and design to the category, resulting in strong new and repeat customer growth,” said Henry Ellenbogen, portfolio manager of T. Rowe Price New Horizons Fund, said in a statement. “We believe Framebridge can be the market leader and we look forward to working with the management team as they further innovate.”
The four-year-old startup, which was founded by Susan Tynan, offers an online service that allows customers to enter the dimensions of a picture (whether it’s on canvas or Instagram), pick a frame and have it delivered.
The company has 300 employees between D.C. and its manufacturing base in Richmond, Ky., which became the center of production operations after it closed a Lanham, Md., facility earlier this year. More hiring is expected.
With the new investment, one area of focus will be on growing production capabilities.
“First, we will expand the role of automation in our operations. We will also continue to invest in Framebridge’s proprietary production software, which guides orders, materials and quality assurance for every frame we build,” Communications Director Claudia Naím-Burt said via email.
The company also indicated it will look to improve the consumer-facing technology, including product and delivery channels.
“We have framed hundreds of thousands of pieces, and are looking forward to leveraging what we have learned about why and how customers want to custom frame online to make our site and app even more intuitive and our manufacturing even more efficient,” Naím-Burt said.
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