Fortune reported Oct. 20 that a Series B funding round values U.S. custom-parts maker SendCutSend at $2.1 billion as the company pursues a multiyear investment in domestic manufacturing.
Fortune identified Spark as the lead investor and Paradigm, CRV, MHS and Sequoia as participants. The $2.1 billion is SendCutSend’s valuation; the size of the round was not disclosed.
SendCutSend said in a May 19 announcement that it had raised $110 million at a $1.01 billion valuation. Paradigm helped lead that financing with Sequoia, Patrick Collison and John Collison. The reported Series B valuation figure is more than twice the figure the company announced in May.
Founder and CEO Jim Belosic told Fortune, “I love taking VC dollars and putting it directly in the payroll.”
SendCutSend makes parts to customers’ designs using methods that include cutting metal sheets, CNC machining and bending. In May, it identified facilities in Reno, Nevada; Paris, Kentucky; and Arlington, Texas.
SendCutSend also pledged $1 billion over five years for manufacturing jobs and domestically produced materials in the United States. Its plans include more than $250 million for expanding existing facilities and establishing new hubs.
