VCs: Eurie Kim, Forerunner Ventures; Alfred Lin, Sequoia Capital; Victoria Treyger, Felicis Ventures; and Grace Chou, Felicis Ventures
Relationship: Kim and Lin are investors, Treyger is an advisor. Chou has no relation, just thinks it’s cool.
Total raised: $116 million
What it does: A wholesale marketplace for smaller retailers that helps them stock their shelves, paying only when items sell. It uses data science to help retailers discover new products.
Why it’s hot in 2019: “In a world where many see Amazon as the Goliath that can’t be beat, Faire is putting power back into the hands of the 1 million+ local retailers that drive nearly $1 trillion in annual revenues in the US,” says Kim.
“In just over a year since launching, the Faire team has already surpassed $100 million in run-rate revenue, while building an impassioned community of happy retailers and makers,” says Treyger.
“They take all the pain out of buying for store owners,” says Lin.
“While large format stores have been shutting down, localized small stores have been on the rise over the last few years,” Grace Chou, “What Faire is doing has a ton of potential.”