WASHINGTON, DC, Four-year-old online company that is rapidly disrupting the traditional custom framing industry, today announced $30M in Series C funding.
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Framebridge, the four-year-old online company that is rapidly disrupting the traditional custom framing industry, today announced $30M in Series C funding. The investment was led by funds and accounts advised by T. Rowe Price Associates, Inc., with participation from existing investors SWaN & Legend Venture Partners, Revolution Ventures, and New Enterprise Associates (NEA), among others. This latest investment brings total funding to date to $67M.
Framebridge (framebridge.com) provides high-quality, affordable custom framing to customers through its website and mobile app. Customers order in minutes and either upload a photo or mail-in art or mementos using Framebridge prepaid packaging. Customer items are custom framed using the highest quality materials at the company's centralized manufacturing facility in Richmond, KY and delivered back to the customer in days, all for prices meaningfully lower than traditional frame stores.
"We have always believed people would frame more things if we made the experience dramatically better, and that by aggregating demand, we could deliver that better service to customers at a lower cost," said Susan Tynan, Founder & CEO of Framebridge. "This next chapter empowers us to keep our focus on delivering that excellent customer experience at much larger scale and in more convenient and inspirational ways."
By making quality custom framing easier and more accessible, Framebridge has brought new customers and new, incremental demand to the multi-billion dollar custom framing industry. One-third of Framebridge customers are custom framing for the very first time, and 50% of the company's customers are millennials. Framebridge customers have indicated that 65% of the items they framed with Framebridge are things they would not have taken to a traditional custom framer.
"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. "We believe Framebridge can be the market leader and we look forward to working with the management team as they further innovate."
Framebridge will leverage the new investment to increase brand awareness, expand its manufacturing capabilities, and drive innovation in its products and delivery channels. Having custom framed hundreds of thousands of unique customer items, Framebridge is now positioned to leverage this knowledge about what and why people frame to build an even easier and more intuitive experience.
Founded in 2014 by Susan Tynan, Framebridge has revolutionized custom framing. Framebridge recreated the traditional framing experience by offering high-quality, affordable, and fast custom framing direct to consumer through its website and app. Framebridge is headquartered in Washington DC and operates a state-of-the-art manufacturing facility in Richmond, Kentucky.