Pietra raises $15M from Founders Fund to help creators launch their own product lines
Pietra raises $15M from Founders Fund to help creators launch their own product lines
In the burgeoning creator economy, startups are increasingly looking to build paint-by-numbers platforms that enable aspiring creators to more easily overcome previously insurmountable business obstacles.
The Pietra team, which includes former Uber employees, is capitalizing on this vision by developing a backend for launching and scaling creator product lines.
The startup, which was previously a marketplace for jewelry sellers, has evolved significantly since announcing a seed round from Andreessen Horowitz in early 2019. Now, the company has shifted its focus away from selling diamonds and toward building a comprehensive platform for creators looking to scale physical goods sales, including interacting with suppliers, managing orders and fulfillment, and setting up online storefronts.
According to Pietra, the company recently raised a $15 million Series A round led by Founders Fund, with participation from Andreessen Horowitz, TQ Ventures, and Abstract Ventures. Keith Rabois of Founders Fund led the transaction.
“Initially, we were focused on jewelry and luxury, as well as the rise of creators in this segment,” CEO Ronak Trivedi stated. “When we launched our beta last fall, the platform had evolved from a marketplace to a creator hub, where any size creator could come in and leverage the platform, marketplace, and tools to efficiently and cost-effectively launch a digital-first consumer business.”
What Pietra have in stock for their customers
Pietra enables customers to shop around with a network of suppliers, determine which one is best for them, and then move through the process from sample creation to order fulfillment with the assistance of a technology platform. According to Trivedi, the ultimate goal is to "find the best suppliers in the world and bring them on the platform with the smallest minimum orders possible, allowing the greatest number of people to attempt to start a business."
The startup is attempting to assist small creators in scaling their product distribution while also handling all of the details involved in launching a brand in the first place, such as developing a pre-sale website and assembling some attractive marketing images for products.
Pietra began with a fairly distinct list of product verticals in which they specialize, including swimwear, makeup, apparel, fragrances, and jewelry. By and large, their platform appears to be quite focused on the types of products that have been widely successful with influencers looking to launch their first brands.
Pietra's pricing varies according to the number of services you use and the size of your operation, but the majority of services are charged per unit, with the startup also taking a percentage of goods sold through their marketplace. Additionally, the startup is developing a Pro offering with differentiated pricing for brands that are slightly more established and require multiple production runs per year.
Courses and Certification
I.T Project Management Course and Certificate
Management Information System - MIS Course and Certificate
