Material Bank is a NYC-based scalable digital marketplace that lets design professionals and brands search, sample, and specify architectural and design materials. The platform powers complex searches across hundreds of brands in seconds and pairs that software with a large-scale robotic logistics facility. Samples ordered by midnight ET are delivered in a single box by 10:30 AM the next day. The company serves more than 90,000 active members and connects global brand partners through its logistics network. Material Bank plans to use new capital to foster relationships within the real estate and construction industries, expand its global presence, and pursue potential strategic acquisitions. The company is led by Founder and CEO Adam I. Sandow. Material Bank operates a marketplace for design professionals and brands to discover and sample architectural, design, and construction materials. Led by founder, chairman and CEO Adam I. Sandow, the platform connects 375 brands with over 65,000 members performing almost 700,000 material searches a month. The marketplace is supported by a 380,000 square foot logistics facility near FedEx’s World Hub in Memphis, Tennessee, which uses autonomous robots to fulfill tens of thousands of sample requests nightly. Material Bank intends to use recent funding to scale teams and infrastructure, expand into new verticals, pursue strategic acquisitions, and seed long-term growth initiatives. The company is based in Miami, Florida, and has raised $157M in total funding after a $100M Series C. Bob Mylod of Annox Capital will join the board as part of the financing. Material Bank operates a logistics platform that aggregates materials from hundreds of manufacturers and allows designers and architects to search, filter and order physical samples. Orders placed by midnight ET are fulfilled from a Memphis facility adjacent to FedEx’s sorting center and can arrive by 10am ET the next morning in a single reusable box. The company combines aggregation and rapid delivery with automation — partnering with Locus Robotics in its facility — while paying human workers about $17.50 an hour. Material Bank’s service is free to architects and designers and uses a hybrid SaaS model for manufacturers that includes a monthly listing fee plus transactional fees for leads and sample orders. Founded by Adam I. Sandow and launched in January 2019, the business spun out of Sandow Group and was built on plans to create tools and services beyond media. Material Bank reported record revenues in March during the coronavirus period and expected to beat that record in April; the company has raised a total of $55 million since inception.

Total raised

$303M

Funding rounds

3

Latest round

Series D

Latest activity

May 2022