Backbone PLM, a Boulder, CO-based cloud collaborative platform that enables brands to streamline the complex product development process, completed an $8m Series A financing round.
The round was led by Signal Peak Ventures, participants include Grotech Ventures, Spider Capital, Novel TMT Ventures, Beanstalk Ventures, Brainchild Holdings and Peterson Ventures.
The funds included $6.7m in Series A funding, plus a convertible note.
The investment will enable the company to accelerate its growth and accelerate continued innovation of its product lifecycle management platform.
Founded by brothers Matthew Klein and Andrew Klein, fashion and consumer goods industry veterans with more than 30 years of combined product-making experience, Backbone PLM automates the design and production process for consumer goods companies bringing new products to market, helping them reduce lead times throughout the supply chain and get to market faster. It enables companies to manage milestone calendars, create tech packs, iterate designs, and track factory communications, samples, approvals, cancellations, actions and purchase orders through to the end product.
The company currently works with more than 100 of the most innovative direct-to-consumer brands, including Allbirds, Kith, Outdoor Voices, Parachute Home, Stitch Fix and Warby Parker.