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Creator Economy Start-Up Pietra Raises $15 Million

July 14, 2021 BeautyMatter
July 14, 2021
Pietra

Pietra, the new platform that gives creators the tools to bring an idea for a product line or brand to life from start to finish, has raised $15 million in a Series A funding round led by Founders Fund with participation from Andreessen Horowitz, TQ Ventures, Abstract Ventures, and other strategic investors.

WHO: Pietra is a platform for creators, of all sizes, who have an idea for a product line or lifestyle brand but don't know where to start. Pietra's step-by-step platform allows creators to connect with some of the world's top vendors, set up warehouses and fulfilment, and create their own website. Co-founded in 2019 by Ronak Trivedi CEO, formerly of Uber, the platform aims to lower the barriers of entry for creators seeking to delve into entrepreneurship and offer shoppers a dynamic marketplace to explore up-and-coming brands.

WHY: To meet the growing demand of creators using Pietra, the capital injection will be used to grow the internal team, expand the platform and supplier marketplace, and provide creators the most efficient way to create a digital-first commerce brand.

IN THEIR OWN WORDS: "I'm a firm believer that anyone with entrepreneurial spirit and an idea should have the proper infrastructure to support them in following their dream," said Ronak Trivedi, co-founder and CEO of Pietra. "Historically only top creators or established corporations have had access to the resources that could bring an idea to life. Pietra aims to democratize this access by enabling a single creator to launch the next best-selling product line while maintaining creative and financial control of their brand." Pietra puts the power back into the hands of the creator by giving them access to a global supply chain while automating the parts of the business that are necessary but not differentiating for a growing DTC brand.

"The creator economy has surpassed 50 million income earners worldwide. Pietra accelerates this trend by offering entrepreneurs access to leading manufacturers in any vertical and lowering the traditional barriers to entry," said Keith Rabois, General Partner at Founders Fund and lead Series A investor.

DETAILS:

  • Pietra raised $15 million in a Series A funding round led by Founders Fund with participation from Andreessen Horowitz, TQ Ventures, Abstract Ventures, and other strategic investors.
  • Currently valued at $75MM, Pietra's revenue growth has grown 210% from January to April of this year.
  • The platform is currently being used as a launchpad for over 20,000 creative entrepreneurs.
  • In 2019, the platform raised $4 million in seed funding from Andrew Chen of Andreessen Horowitz, TQ Ventures founded by Scooter Braun, Schuster Tanger, and Andrew Marks, along with other angel investors such as Will Smith and Robert Downey Jr.
  • To date, Pietra has raised $20MM in funding, positioning it to take over and revolutionize the entrepreneurial journey and the creator economy at large.
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