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LISTEN: SendCutSend Raises $110 Million to Build ‘Anything Factories’
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And the owner wants you to “steal” his template.
This week, rapid custom manufacturer SendCutSend reached a valuation of $1.01 billion after a $110 million investment from Sequoia, Paradigm, and Patrick and John Collison—the guys who co-founded Stripe.
The Reno, Nevada-based company is using the funds to launch a five-year plan to strengthen its American industrial base, which includes a $1 billion commitment to creating new U.S. manufacturing jobs and to domestically produced materials.
The company also earmarked more than $250 million to expand existing facilities and establish new manufacturing hubs throughout the country. By merging software-first logic with high-speed domestic production, SendCutSend provides laser cutting, CNC machining, and finishing services with instant-buy access. The company wants to be America's "anything factory," delivering parts in as little as 24 hours.
SendCutSend has spent the last eight years working on developing a model that allows users to get an instant quote and quickly begin production.
The company said it has been largely bootstrapped until now, primarily funded by $6 million from friends and family. Company founder Jim Belosic believes the time is right to accept investment to meet the speed and volume requirements of a rapidly reindustrializing American economy.
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