Episode #242 of The VentureFizz Podcast features Max Lobovsky, CEO & Co-Founder at Formlabs.
Launching and scaling a successful company typically takes bold entrepreneurs who are willing to take the risk of building something in a market that doesn’t exist yet. They look at the world differently and they have a vision that some might think is crazy. But, it’s these entrepreneurs that go on to define markets and scale companies at unicorn valuations.
In the case of Formlabs, Max and his co-founders set out to make 3D printing more accessible through its revolutionary desktop 3D printer. Fast forward, the company has scaled to about 700 employees, multiple products, and a global footprint. Just last year, the company announced a $150M Series E round of funding last year at a $2B valuation.
However, when they started the company in 2011, raising capital for a company this complex was incredibly rare as it involves hardware, software, materials, and manufacturing. Landing their first investor - that being Mitch Kapor (the founder of Lotus and a legendary investor) - is absolutely one of the best funding stories that I’ve ever heard.
In this episode of our podcast, we cover:
- The current state of the 3D printing industry, including the variety of use cases and predictions for the future.
- Max’s background story growing up, his studies at Cornell & MIT, plus what sparked his interest in the 3D printing industry.
- How he met his co-founders and how they got Formlabs started, plus the details behind their Kickstarter campaign which was one of the most successful of all time.
- A look at Formlabs today in terms of its scale and growth plans ahead, plus the company’s culture.
- Lessons learned around hiring and what has been the key criteria for successful hires.
- And so much more.
Keith Cline is the Founder of VentureFizz. Follow him on Twitter: @kcline6.
