NEW YORK, NY, Atomico is excited to announce that it has led Fab's $105 million Series C financing.
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Atomico is excited to announce that it has led Fab's $105 million Series C financing. Also participating in the round are Pinnacle Ventures, ru-Net Technology Partners (RTP), Mayfield Fund and DoCoMo Capital, and several existing investors, including Andreessen Horowitz, Menlo Ventures, Baroda Ventures and First Round Capital. Atomico Partner Geoffrey Prentice will join Fab's board of directors.
Atomico was particularly impressed by Fab's unique ability to speak to both its members and design partners on a more emotional level, thereby bringing newness, excitement and passion into the online shopping experience. Even more remarkable is that Fab has achieved this at the same time as being the fastest growing e-commerce company on the planet.
Niklas Zennström, founder and CEO of Atomico said, "I was instantly impressed with how Fab are building an everlasting global iconic brand that is synonymous with good design. It was also clear that both members and design partners feel emotionally attached to the Fab brand - which is rare to see in e-commerce."
Fab's global expansion dovetails perfectly with Atomico's unique ability to help leading technology companies penetrate new markets from its development offices in São Paulo, Beijing, Tokyo and Istanbul.
"I first met Niklas and his partner, Geoff Prentice, back in March of this year. I was immediately struck with their long term view of our business and their perspective on the potential for the Fab brand," said Jason Goldberg, co-founder and CEO of Fab. "Through our discussions it became clear that Niklas, Geoff, and the entire Atomico team shared our vision for Fab. Atomico is already helping us with our global expansion through their impressive footprint in London, Tokyo, Beijing, São Paulo and Istanbul."
Geoffrey Prentice, Partner at Atomico said, "We were immediately impressed with the huge global ambition of the founders, their ability to execute, and the depth of talent throughout the organisation. We believe Fab will both define and dominate its category for years to come. After all, design is everywhere, and design is global."
Fab is also a global leader in social commerce which drives 50% of the company's signups, and mobile commerce which currently amounts to 35% of Fab's daily visits. Atomico believes that Fab is setting new industry standards in using these new channels, and looks forward to working with Fab's outstanding management team to build a generation defining business and brand.
Atomico is an international technology investment firm, focused on helping the world's most disruptive technology companies reach their full potential on a global scale. Founded by Niklas Zennström, the co-founder of Skype, Atomico has become the investor of choice for ambitious entrepreneurs due to the unique international network, and ability to help companies operationally. Headquartered in London with offices in Beijing, São Paulo, Tokyo and Istanbul, it has so far invested in more than 50 companies on four continents. Some of the team's investments include category leaders such as Rovio, Jawbone, FON, Klarna and Skype.