Online and mobile framing service Framebridge sized up a new production facility from which it fulfills online orders with its latest round of funding.
Framebridge today announced the closing of a $9 million financing round led by investment firm Swan and Legend Venture Partners. Some of that money will go toward a new 100,000-square-foot production facility, the company’s second, which opens today in Richmond, Ky., and eventually will employ 75 people. Framebridge’s other production facility is in Lanham, Md.
The latest finding comes almost a year after Framebridge closed on a $7.7 million round led by New Enterprise Associates and Revolution Ventures, both of which participated in the current around. The 2-year-old company has raised more than $20 million. Framebridge does not disclose revenue figures.
“The company has shown significant customer growth and operational improvements, while remaining focused on delivering a top-notch customer experience,” says Swan and Legend managing director Fred Schaufeld. “It is the type of company we look for when we make funding decisions. It fills a market need with very affordable pricing for custom framing, great operational support and potential for incredible growth.”
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