Monday, August 5, 2019

Backbone Finds $18 In Series A2 For CPG Software

Boulder-based Backbone, a developer of cloud-based software used for managing the workflow of consumer goods companies, has raised $10M in a Series A2 financing. The funding was led by Foundry Group. According to the company, the new funding brings its total raised to $23M, with $18M raised in its Series A funding. The company--led by CEO Matthew Klein--provides its cloud-based software to such brands as Allbirds, Warby Parker, Outdoor Voices, Uppababy, Serena & Lily, Betabrand and Parachute Home. The company says its will use the new funding to expand into additional consumer goods industries, including fashion, furniture, home and hard goods, and textiles. The company's tools are used as part of the manufacturing process for those CPG companies.