Faire, a curated wholesale marketplace that connects independent retailers and makers, raised $150m in Series D funding round at $1 billion valuation.
The round was co-led by Lightspeed Venture Partners and Founders Fund with participation from existing investors including Forerunner Ventures, YC Continuity, and Khosla Ventures.
The company, which has raised $266m in total funding to date, intends to use the funds to expand into new markets, improve the marketplace, and continue building its tools.
Launched in 2017 by CEO Max Rhodes, Faire is a wholesale marketplace taking a data-driven approach to connect local, independent retailers with brands, artisans, and makers.
Its digital approach to wholesale lets retailers try-before-they buy, eliminating inventory risk and access to capital.
To date, the platform has on-boarded 7,000 makers and 50,000 local retailers onto the marketplace and sold more than 15 million products.
The company has three office locations: San Francisco, Kitchener-Waterloo, and Salt Lake City, with more than 150 global employees.