Formlabs Valuation, Funding & Investors

Formlabs is valued at $2B as of May 2021.

Last Formlabs valuation

$2B

Series E · May 2021

Last Formlabs funding round

$150M

Series E · May 2021

Cumulative funding Formlabs raised

$249M

across 5 funding rounds

Key investors in Formlabs

  • Pitango VC
  • DFJ Growth
  • Shenzhen Capital Group
  • Foundry Group
  • Tyche Partners
  • New Enterprise Associates

Formlabs Overview

About Formlabs

Formlabs - Massachusetts-based professional 3D printer manufacturer developing stereolithography and selective laser sintering systems. Form series powered by proprietary Low Force Stereolithography technology serves engineers, designers, and manufacturers globally. Product lineup includes Form 3, Form 3B for healthcare, Form 3L large format, Fuse 1 SLS, plus post-processing solutions and high-performance materials. Develops integrated software and resin formulations expanding additive manufacturing applications.


Founded

2011

HQ

United StatesBoston, MA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$2B (May 2021)

Formlabs Valuation

Formlabs is currently valued at $2B, based on its Series E in May 2021.

The $150M round was led by SoftBank Group.

Formlabs' valuation has grown 2.0x from $1B at its Series D in August 2018 to $2B in May 2021, across 2 priced rounds.

Formlabs valuation by funding round

Formlabs valuation by funding round
DateStageValuation
May 2021Series E$2B
Aug 2018Series D$1B

Formlabs Funding History

Formlabs has raised a total of $249M across 5 funding rounds.

Formlabs' first fundraising round was a $19M Series A in October 2013. The most recent completed round was a $150M Series E in May 2021.

Formlabs funding rounds

Formlabs funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2021Series ESoftBank Group (lead)$150M$2BFormlabs, a Somerville, Massachusetts-based 3D printing company spun out of MIT Media Lab, manufactures stereolithography (SLA) and selective laser sintering (SLS) 3D printers, materials, and software for industries including healthcare, dental, manufacturing, engineering, education, jewelry, audio, and entertainment. The company raised $150 million in a Series E round on May 19, 2021, led by SoftBank Vision Fund 2, which doubled its valuation to $2 billion from the previous $1 billion set in 2018. This brought total funding to approximately $250 million. The investment will support expansion of Formlabs' technology portfolio, acceleration of product development in SLA and SLS technologies, mass production capabilities, customization, international growth, and hiring across its seven global offices, with over 100 tech positions open in Massachusetts. Formlabs' printers have produced over 85 million parts for brands like Google, New Balance, and Ashley Furniture, including tens of millions of nasopharyngeal swabs for COVID-19 testing in partnership with Northwell Health. Deep Nishar, senior managing partner at SoftBank Investment Advisers, joined the board, with Kirthiga Reddy as a board observer. The round occurs amid a 3D printing industry resurgence, projected to reach over $51 billion by 2026, with competitors like Desktop Metal and Markforged pursuing SPACs. CEO Max Lobovsky emphasized improving user experience, quality, and cost to drive adoption from prototyping to production, positioning Formlabs to lead in additive manufacturing.
Aug 2018Series DNew Enterprise Associates (lead); Pitango VC; Shenzhen Capital Group$15M$1BFormlabs develops 3D printing technology, including printers, materials, and software for engineers, designers, and manufacturers in education, dentistry, healthcare, and jewelry. The company operates a marketplace called Pinshape for designs and emerged from MIT Media Lab. In August 2018, Formlabs raised $15 million in a Series D round led by New Enterprise Associates, with the investment valuing the company at more than $1 billion and bringing total funding to $100 million. Prior rounds included a $30 million Series C in April 2018 led by Tyche Partners with Shenzhen Capital Group and others, a $35 million Series B in 2016 with Autodesk and Foundry Group, and a $19 million Series A in 2013. The funds supported international growth, new product lines, and operations scaling, alongside appointing Jeff Immelt to the board.
Apr 2018Series CTyche Partners (lead); Pitango VC; UpNorth Investment Limited; Foundry Group; DFJ Growth; Shenzhen Capital Group$30M-Formlabs, a designer and manufacturer of powerful and accessible 3D printing systems, raised $30 million in a Series C funding round on April 23, 2018, led by Tyche Partners, with participation from Shenzhen Capital Group, UpNorth Investment Limited, and existing investors DFJ Growth, Pitango VC, and Foundry Group. This brought total funding to $85 million. The investment aimed to broaden the product portfolio and scale operations to meet growing customer demand worldwide, especially in China and Asia, where Formlabs was expanding its presence alongside established U.S. and European markets. At the time, Formlabs had over 300 employees in the U.S., 100 in Europe, and staff in China and Japan. The company reported exceptional year-over-year growth, with 100 channel partners and resellers shipping to six continents, holding the largest market share in desktop SLA 3D printing worldwide as the number one selling stereolithography printers. This funding announcement preceded a headquarters expansion in Somerville, MA, adding an 18,000 square foot facility. Tyche Partners highlighted Formlabs' leadership in transforming the 3D printing industry, dominating desktop SLA and expanding into SLS to penetrate industrial markets. CEO Maxim Lobovsky emphasized accelerating profitability and revenue growth, particularly increasing presence in China, the world's largest manufacturing hub. Formlabs had recently expanded offerings into manufacturing-focused 3D printing alongside desktop machines, positioning it as a rare success in the desktop 3D printing space amid industry challenges.
Aug 2016Series BFoundry Group (lead); Pitango VC; Pascal Cagni; Tyche Partners; C4 Ventures; DFJ Growth; Autodesk; Founder Collective$35M-Formlabs, a designer and manufacturer of powerful and accessible professional desktop 3D printing systems, raised $35 million in a Series B funding round on August 4, 2016, led by Foundry Group with participation from Autodesk and existing investors DFJ Growth, Pitango Venture Capital, and Cagni Ventures. This brought total funding to $55 million. The investment aimed to scale operations for growing global customer demand, expand R&D, and broaden market reach. Brad Feld, co-founder of Foundry Group, joined the board. Formlabs produces high-performance stereolithography 3D printers like the Form 2, materials, and software, positioning itself as a leader in professional desktop 3D printing amid waning consumer hype. The company had previously raised $19 million in Series A led by DFJ Growth and earlier seed/ Kickstarter funding. By 2018, Formlabs reported profitable operations with an annual revenue run rate exceeding $100 million after five years of nearly 100% average growth, alongside milestones like being the top seller of stereolithography 3D printers worldwide, over 500 employees, and expansion into Asia. Later rounds included a 2018 investment from NEA valuing the company over $1 billion and a 2021 Series E at $2 billion valuation.
Oct 2013Series ADFJ Growth (lead); Pitango VC; Innovation Endeavors; Acequia Capital (AceCap); SOSV; Eyal Gura$19M-Formlabs, a Somerville, Massachusetts-based company founded by Maxim Lobovsky, Natan Linder, and others as an MIT Media Lab spin-out, designs and manufactures high-resolution desktop 3D printers like the Form 1. The company gained initial traction through a breakout Kickstarter campaign in 2012, raising $2.95 million from thousands of backers across 35 countries to bring its affordable, high-performance 3D printer to market. On October 24, 2013, Formlabs announced a $19 million Series A funding round led by DFJ Growth, with participation from Pitango Venture Capital, Innovation Endeavors, and returning angel investors including some from its prior $1.8 million seed round. The Series A funds were allocated to expand product research and development, design teams, marketing, customer support, and international growth to meet rising demand following the Kickstarter success. DFJ Growth Managing Director Barry Schuler joined the board, highlighting Formlabs' advancement in the industrial revolution through accessible digital fabrication tools. The round positioned Formlabs to enhance software features, extend materials range, and improve global service for Kickstarter backers and customers. Subsequent rounds included a $35 million Series B in 2016 led by Foundry Group with Autodesk participation, bringing total funding to $55 million at that point, and a $150 million Series E in 2021 led by SoftBank Vision Fund 2 at a $2 billion valuation. Formlabs has continued expanding its 3D printing portfolio for prototyping, production, and industrial applications, competing with firms like MakerBot and 3D Systems.

Who has invested in Formlabs?

16 investors have backed Formlabs across its funding rounds, including Pitango VC, DFJ Growth, Shenzhen Capital Group, Foundry Group, Tyche Partners and New Enterprise Associates.

Lead investors include SoftBank Group, New Enterprise Associates, Tyche Partners, Foundry Group and DFJ Growth.


Formlabs Investors

Investors in Formlabs by funding rounds participated
InvestorHQRoundsRoleFirst check
Pitango VCIsraelHerzliya4ParticipantOct 2013
DFJ GrowthUnited StatesSan Francisco, CA3LeadOct 2013
Tyche PartnersUnited StatesSan Francisco, CA2LeadAug 2016
Foundry GroupUnited StatesBoulder, CO2LeadAug 2016
Shenzhen Capital GroupChinaShenzhen2ParticipantApr 2018
Pascal CagniFranceParis1ParticipantAug 2016
C4 VenturesFranceParis1ParticipantAug 2016
UpNorth Investment Limited--1ParticipantApr 2018
SoftBank GroupJapanTokyo1LeadMay 2021
New Enterprise AssociatesUnited StatesSan Francisco, CA1LeadAug 2018
Innovation EndeavorsUnited StatesSan Francisco, CA1ParticipantOct 2013
Acequia Capital (AceCap)United StatesParis1ParticipantOct 2013
AutodeskUnited StatesSan Francisco, CA1ParticipantAug 2016

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Acquisitions by Formlabs

Formlabs has acquired 2 companies to date.

Last acquisition by Formlabs was on July 11th 2024. Formlabs acquired Micronics for $7M.


Latest Acquisitions by Formlabs

Micronics
Pinshape
Description
Micronics is a provider of high-precision 3D printers using stereolithography for industrial prototyping and production. The company manufactures SLA systems with resolutions down to 25 microns for aerospace, medical, and dental models. Its Tennessee-based operations include custom resin formulations and post-processing services.
Pinshape is a Vancouver-based 3D printing community and marketplace for brands, designers, and makers. 500 Startups-backed company specializing in findable, printable designs with intellectual property protection through secure streaming technology.
HQ CountryUnited StatesCanada
HQ City
Madison, WI
Vancouver
Deal Date11 Jul 20243 May 2016
Valuation$7Mundisclosed
EV/Revenue
EV/EBITDA

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Formlabs Competitors

Formlabs competitors include listed companies like Proto Labs and Xometry, and private ones like ICON, Divergent, VulcanForms and Relativity Space.

Public and private companies comparable to Formlabs
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Proto LabsUnited StatesUnited StatesPublicly listed$533M$65M$2.1B3.4x
ICONUnited StatesAustin, TXPrivate--$2.1B-
DivergentUnited StatesLos Angeles, CAPrivate--$2.3B-
VulcanFormsUnited StatesUnited StatesPrivate--$1B-
Relativity SpaceUnited StatesLos Angeles, CAPrivate--$4.2B-
XometryUnited StatesUnited StatesPublicly listed$687M($46M)$5.5B6.2x

Formlabs Public Comps

Formlabs is still privately-owned, but its public comps include Proto Labs, Kinpo Electronics, Stratasys, 3D Systems, Materialise, ispace, Velo3D, Nano Dimension, Infinitt Healthcare and Renishaw.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Proto Labs$533M$65M3.6x3.4x29.6x21.3x
Kinpo Electronics$5.1B$199M0.5x-13.7x-
Stratasys$551M($29M)0.9x0.9x(17.5x)19.6x
3D Systems$387M$72M1.6x1.5x8.3x(41.6x)
Materialise$308M$32M1.2x1.1x11.2x8.7x
ispace$21M($40M)19.6x19.6x(10.4x)(5.3x)
Velo3D$46M($64M)6.2x4.4x(4.5x)(11.8x)
Nano Dimension$102M($122M)----

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Common questions about Formlabs

When was Formlabs founded?Formlabs was founded in 2011.
Where is Formlabs headquartered?Formlabs is headquartered in Boston, MA, United States.
Is Formlabs publicly listed?No, Formlabs is a private, VC-backed company.
What is Formlabs' valuation?Formlabs was last valued at $2B in its Series E in May 2021.
How much funding has Formlabs raised?Formlabs has raised $249M across 5 funding rounds.
What was Formlabs' last funding round?Formlabs' last funding round was a $150M Series E in May 2021, led by SoftBank Group.
Who are Formlabs' investors?Formlabs' investors include Pitango VC, DFJ Growth, Tyche Partners, Foundry Group, Shenzhen Capital Group, Pascal Cagni, C4 Ventures, UpNorth Investment Limited, SoftBank Group, New Enterprise Associates and 6 others.
Which companies are comparable to Formlabs?Companies comparable to Formlabs include Proto Labs, ICON, Divergent, VulcanForms, Relativity Space and Xometry.
How many companies has Formlabs acquired?Formlabs has acquired 2 companies, including Micronics and Pinshape.
What was the largest acquisition by Formlabs?The $7M acquisition of Micronics in July 2024 is the largest acquisition Formlabs has made to date.

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