The key to our success in Series A

Collaboration is the key to success. Backbone has known this since the beginning. Our focus on collaboration is why we designed our cloud-based platform to connect all members of a team and all parts of production. Collaboration, cooperation, and teamwork is how we are making a difference across the customer product industries.

That’s one of the reasons we’re so proud to have recently received a $10 million investment from Foundry Group. This new investment, combined with the $8 million we secured in August 2018, means that we’re closing out our series A round having raised $18 million in 12 months. This investment will continue to accelerate the growth of the Backbone team and our core product. It will also help us advance in the middle market while garnering more business in the enterprise market. It allows us to further enable today’s leading disruptive brands to make products better, faster, and more efficiently.

Over the past 12 months, we have advanced the Backbone platform and expanded our reach into consumer goods industries like fashion, furniture, home goods, hard goods, textiles, and more. We’re actively working with 150+ companies, including world-leading, digitally-native brands like Allbirds, Warby Parker, Outdoor Voices, Betabrand, UPPAbaby, Serena & Lily, and Parachute Home.

We couldn’t have done this alone. Jason Mendelson, founding partner of Foundry Group, has said that he is “incredibly excited to partner with [Backbone],” and the feeling is mutual. We’re grateful for and proud of our partnership with investors like Foundry Group. The opportunities we are finding are even more massive than we originally thought, and we can’t wait to expand the Backbone team further.

This recent investment allows us to make progressive updates and add more features to the platform’s already impressive offering. It will also support Backbone’s internal growth. By the end of 2019, we plan to bring on a Chief Operating Officer, and by the end of Q2 of 2020, we expect to double the number of Backbone employees, going from 50 to over 100.

This article was originally published August 5, 2019, exclusively on LinkedIn.