Minted Raises $41 Million In Series C
Minted is an online marketplace for independent design and art that has raised $41 million in Series C funding led by Technology Crossover Ventures. Allen & Company and existing investor Benchmark Capital also participated in this round. Eventbrite co-founders Kevin and Julia Hartz also participated in this round. Marissa Mayer and Jeremy Stoppelman are amongst other Minted angel investors. Woody Marshall of Technology Crossover is joining the board of directors.
Minted crowd-sources and sells graphic design and art from thousands of independent designers. The company sells a plethora of premium products for home decoration, holiday gifts, and other occasions.
Minted plans to use the funding to scale to fulfill strong demand in their core stationery business. They will also scale their crowd-sourcing model to new categories including wall art and party decor.
“Minted believes in the power of the individual to influence design,” stated Minted founder and CEO Mariam Naficy. “Our mission is to find and nurture great designers, no matter where they are in the world, and enable them to bring their vision to consumers in the form of premium products. We are excited to partner with TCV and other highly-experienced new investors to continue building a marketplace that brings together consumers and independent designers.”
Minted has been hosting graphic design challenges over the last 6 years. Designers use Minted’s community platform and critique each other by voting on entries for each challenge. This way Minted can surface the best designers. Minted manufactures and sells the winning designs while paying the designer a commission on every sale.
Minted has over 115 full-time employees. The company previously raised $11 million from IDG Ventures, Benchmark Capital, and Menlo Ventures.