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fabric Valuation, Funding & Investors
fabric is valued at $1.5B as of February 2022.
Last fabric valuation
$1.5B
Series C · Feb 2022
Last fabric funding round
$140M
Series C · Feb 2022
Cumulative funding fabric raised
$294M
across 4 funding rounds
Key investors in fabric
Redpoint
Sierra Ventures
Norwest
Stripes
SoftBank Group
Greycroft
About fabric
fabric is a composable commerce platform enabling retailers to integrate best-of-breed tools without replatforming from Shopify or Salesforce. It accelerates digital revenue growth through APIs for payments, inventory, and personalization. Headquartered in Seattle, Washington, fabric serves clients like BuildDirect and GNC across North America and Europe. Backed by SoftBank and Norwest, it launched in 2017 with modular storefronts.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$1.5B (Feb 2022)
fabric Valuation
fabric is currently valued at $1.5B, based on its Series C in February 2022.
The $140M round was led by SoftBank Group, with participation from Redpoint, World Innovation Lab, Forerunner, Norwest, Sierra Ventures and 2 other investors.
fabric's valuation has grown 7.8x from $193M at its Series A in February 2021 to $1.5B in February 2022, across 3 priced rounds.
fabric valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2022 | Series C | $1.5B |
| Jul 2021 | Series B | $850M |
| Feb 2021 | Series A | $193M |
fabric Funding History
fabric has raised a total of $294M across 4 funding rounds.
fabric's first fundraising round was a $11M seed round in October 2020. The most recent completed round was a $140M Series C in February 2022.
fabric funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2022 | Series C | SoftBank Group (lead); Redpoint; World Innovation Lab; Forerunner; Norwest; Sierra Ventures; Glynn Capital Management; Stripes | $140M | $1.5B | - |
| Jul 2021 | Series B | Stripes (lead); Redpoint; Greycroft; Norwest; Sierra Ventures; B Capital | $100M | $850M | Fabric is a Seattle-based e-commerce technology startup offering an API-driven headless commerce platform for mid-market retail buyers, planners, and marketers. It enables customization of websites with modular applications covering customer experience to order management, serving clients like ABC Carpet & Home, GNC, Juicy Couture, Restoration Hardware, and BarkBox. The platform helps brands modernize legacy e-commerce systems quickly without heavy engineering resources, targeting businesses outgrowing small-business solutions. On July 20, 2021, Fabric raised $100 million in a Series B funding round led by Stripes, with participation from B Capital Group, Greycroft, Norwest Venture Partners, Redpoint Ventures, and Sierra Ventures. This followed a $43 million Series A in February 2021 led by Norwest, bringing total funding to $153 million at the time. The round valued Fabric at $850 million post-money, up from $193 million in the prior round, positioning it near unicorn status amid surging retail tech investments. Fabric reported over 800% year-on-year revenue growth and a net customer retention rate of 230% around the round, with headcount expanding 400% to 161 employees since February 2021. The funds were earmarked for global expansion, particularly into Asia, to support more mid-size and enterprise B2B/B2C brands as trillions in commerce shift online. Stripes partner Ron Shah joined the board. The funding occurred during a boom in e-commerce, with the market projected to grow at 22.9% CAGR to $16.2 trillion by 2027, and retail tech funding hitting records like $31.5 billion in Q2 2021. Fabric competes in providing back-end infrastructure for online shopping, helping retailers counter Amazon's dominance through niche strengths and tech modernization. Founded by executives with experience at eBay, Staples, Amazon, and Google, Fabric had relocated its HQ from Bellevue to Seattle by the Series B announcement. |
| Feb 2021 | Series A | Norwest (lead); Redpoint; Sierra Ventures | $43M | $193M | Fabric is a headless commerce platform designed for rapid deployment and growth, enabling mid-market D2C and B2B brands to modernize e-commerce without replatforming. Founded in 2017 by veterans from Amazon, eBay, Staples, and Groupon, it offers an API-driven, modular system that supports immersive digital experiences, order management, product data, and fulfillment. Customers include GNC, ABC Carpet & Home, BuildDirect, Juicy Couture, Universal Lacrosse, Restoration Hardware, and BarkBox. The platform launched its cloud-native suite in October 2020 and aims to multiply retailers' digital revenue by up to 3x while onboarding in weeks. On February 9, 2021, Fabric raised $43 million in a Series A round led by Norwest Venture Partners, with participation from Redpoint Ventures and Sierra Ventures. This followed a $9.5 million seed round in October 2020 (sometimes reported as $10.5 million). Norwest partner Scott Beechuk joined the board. The funds were allocated to accelerate product development, expand the product suite with co-pilot apps for logistics and fulfillment, grow the sales and marketing team, hire talent in engineering, product, DevOps, and marketing, and meet surging e-commerce demand amid the pandemic. The Series A valued Fabric at $193 million post-money, per Bloomberg as reported by GeekWire. This valuation rose sharply to $850 million in the July 2021 Series B ($100 million led by Stripes, with prior investors participating), reflecting over 800% year-over-year revenue growth, employee count surging 400% to 161, and total funding reaching $153 million by mid-2021. Fabric positioned itself against legacy systems and marketplaces like AmazonBasics, emphasizing direct-to-consumer differentiation in a market projected to exceed $5 trillion globally by 2021. |
| Oct 2020 | Seed | Redpoint (lead); Jeremy Yap; Ascend; Todd Rovak; Jonathan Weiner; Sierra Ventures; Expa | $11M | - | fabric is a headless commerce platform purpose-built for growth, offering a cloud-native experience and commerce product suite for direct-to-consumer and B2B brands. The platform enables retailers to integrate with existing technology investments, go live in weeks without replatforming, and grow digital revenue by up to 3x. Early customers include ABC Carpet & Home, BuildDirect, GNC, and Universal Lacrosse. On October 20, 2020, fabric announced $9.5 million in seed funding led by Redpoint Ventures, with participation from Sierra Ventures and Expa. Other backers include Ascend Venture Capital and Innovation Global Capital. Alex Bard from Redpoint Ventures and Tim Guleri from Sierra Ventures joined the board. E-commerce veteran Faisal Masud became CEO. The funding supports platform development, apps, sales and marketing processes, and leadership team expansion. fabric had operated in stealth until late March 2020 with early customers, positioning for accelerated growth post-funding. |
Who has invested in fabric?
15 investors have backed fabric across its funding rounds, including Redpoint, Sierra Ventures, Norwest, Stripes, SoftBank Group and Greycroft.
Lead investors include SoftBank Group, Stripes, Norwest and Redpoint.
fabric Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Oct 2020 | ||
| 4 | Participant | Oct 2020 | ||
| 3 | Lead | Feb 2021 | ||
| 2 | Lead | Jul 2021 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Lead | Feb 2022 | ||
| 1 | Participant | Feb 2022 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Feb 2022 | ||
| 1 | Participant | Oct 2020 | ||
This data is available for Pro users. Sign up to see all 15 fabric investors. Start Free Trial | ||||
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Start Free Trialfabric Competitors
fabric competitors include listed companies like Infomart and Lightspeed Commerce, and private ones like Cart.com, commercetools, ShipBob and Swiftly.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.6B | - | ||
| Private | $150M | - | $1.9B | 12.7x | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $121M | $31M | $1.2B | 8.6x | ||
| Publicly listed | $1.2B | ($13M) | $1.2B | 0.7x |
fabric Public Comps
fabric is still privately-owned, but its public comps include Infomart, Lightspeed Commerce, GigaCloud Technology, Xinhua Winshare, Rezolve AI, Shiprocket, Hangzhou Raycloud Tech, ODDITY Tech, Riskified and Auction Technology Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $121M | $31M | 9.3x | 8.6x | 35.9x | 31.7x | |||
| $1.2B | ($13M) | 0.7x | 0.7x | (65.4x) | 11.0x | |||
| $1.3B | $158M | 1.6x | 1.4x | 12.8x | 10.6x | |||
| $1.7B | $248M | 0.4x | 0.4x | 2.9x | 3.4x | |||
| $47M | ($109M) | 23.3x | 4.0x | (10.0x) | (19.3x) | |||
| $211M | ($7M) | 4.3x | - | (131.1x) | - | |||
| $84M | $719K | 10.6x | 9.8x | 1238.3x | - | |||
| $810M | $131M | 1.5x | 1.8x | 9.6x | 18.3x | |||
This data is available for Pro users. Sign up to see all fabric competitors and their valuation data. Start Free Trial | ||||||||
Common questions about fabric
| When was fabric founded? | fabric was founded in 2016. |
| Where is fabric headquartered? | fabric is headquartered in Seattle, WA, United States. |
| Is fabric publicly listed? | No, fabric is a private, VC-backed company. |
| What is fabric's valuation? | fabric was last valued at $1.5B in its Series C in February 2022. |
| How much funding has fabric raised? | fabric has raised $294M across 4 funding rounds. |
| What was fabric's last funding round? | fabric's last funding round was a $140M Series C in February 2022, led by SoftBank Group. |
| Who are fabric's investors? | fabric's investors include Redpoint, Sierra Ventures, Norwest, Stripes, Jeremy Yap, Ascend, SoftBank Group, World Innovation Lab, Todd Rovak, Jonathan Weiner and 5 others. |
| Which companies are comparable to fabric? | Companies comparable to fabric include Cart.com, commercetools, ShipBob, Swiftly, Infomart and Lightspeed Commerce. |
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