Curated wholesale marketplace Faire has achieved unicorn status after being valued over $1bn following a huge $150m funding round.
Venture capital firms Lightspeed Venture Partners and Founders Fund led the round.
Both Lightspeed Venture Partners and Founders Fund also led InsurTech and risk analytic startup Arceo.ai’s $37m round in September.
Faire’s new round was also supporete by Forerunner Ventures, YC Continuity and Khosla Ventures. Forerunner Ventures backed US mobile banking startup Chime’s $200m Series D round in March, which granted the company a unicorn valuation.
Faire is intending to use the money to scale its business, expand into new markets and sharpen its tools further
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