Material Bank
| Industry |
|
|---|---|
| Founded | 2018 |
| Founder | Adam Sandow |
| Headquarters | 101 Park Ave, New York, NY , United States |
| Products |
|
| Website | www |
Material Bank Inc. is an online marketplace for architectural and interior design products and materials such as textiles, wallcoverings, flooring, paint, and stone. Architects, interior designers, and companies use the website to search for and order material samples.
History
Material Bank was founded by Adam Sandow, who also serves as chairman and CEO of SANDOW, a group of media and technology companies in the architecture, design, and luxury industries. Sandow came up with the idea for Material Bank when he realized that design professionals were finding it difficult obtain material samples for their projects. Though there are millions of building design materials available from many manufacturers, there was no single place to search them all and then order samples.
Product Overview
Material Bank has over 35,000 members who use the website to find and order samples of materials for commercial and residential projects. Since the company’s launch in 2019, design professionals have used Material Bank for more than 75,000 design projects. If samples are ordered by midnight ET, they are delivered by 10:30 AM ET the next day in the US and Canada. Samples are shipped from Material Bank’s 80,000 square-foot logistics hub equipped with 20 robots from Locus Robotics. To facilitate overnight shipping, the hub is located in Memphis, TN, near the global FedEx Superhub.
Material Bank groups sample orders from multiple manufacturers into a single box, reducing the number of packages sent. In 2019, Material Bank eliminated more than 200,000 packages from being shipped.[1] Additionally, samples can be returned at no cost to be reused again.
Funding
Material Bank received $28 Million (Series B funding)[2] from Bain Capital Ventures and Raine Ventures on April 30, 2020.[3]
References
- ↑ https://www.azuremagazine.com/article/material-bank-is-revolutionizing-the-product-sampling-process/
- ↑ https://www.architecturaldigest.com/story/next-day-delivery-samples-platform-material-bank-secures-dollar28m-in-series-b-funding
- ↑ https://techcrunch.com/2020/04/30/material-bank-a-logistics-platform-for-sourcing-architectural-and-design-samples-raises-28m/
External Links
- Material Bank Official website
- Material Bank on Linkedin
- Material Bank on Facebook
- Material Bank on Crunchbase
This article "Material Bank" is from Wikipedia. The list of its authors can be seen in its historical. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace.