Market Overview

Backbone PLM Raises $8 Million in Series A Funding

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Platform Supports 100+ Direct-to-Consumer Brands, Including
Allbirds, Outdoor Voices, Stitch Fix and Warby Parker

Investment Will Fuel Further Growth of Solution that Streamlines
the Design, Development and Production Process

Backbone PLM, the first cloud-based, collaborative platform that enables
brands to streamline the complex product development process, today
announced that it has completed an $8 million Series A financing round.
Led by Signal Peak Ventures, participants include Grotech Ventures,
Spider Capital, Novel TMT Ventures, Beanstalk Ventures, Brainchild
Holdings and Peterson Ventures. The funds included $6.7 million in
Series A funding, plus a convertible note.

Backbone PLM currently works with more than 100 of the most innovative
direct-to-consumer brands, including Allbirds, Kith, Outdoor Voices,
Parachute Home, Stitch Fix and Warby Parker. The investment will enable
Backbone PLM to accelerate its growth and fuel continued innovation of
its product lifecycle management platform.

The company was founded by brothers Matthew Klein and Andrew Klein,
fashion and consumer goods industry veterans with more than 30 years of
combined product-making experience. Backbone PLM automates the design
and production process for consumer goods companies bringing new
products to market, helping them reduce lead times throughout the supply
chain and get to market faster. Historically, brands had to manually
manage the PLM process, which often resulted in errors that led to
revenue losses and miscalculated inventory.

"Traditional PLM is slow, rigid and cumbersome. Backbone PLM is
reinventing product development with a platform built for modern,
creative product teams," said Matthew Klein, Chief Executive Officer.
"The platform eliminates friction and complexities while increasing
speed to market. We are thrilled to partner with such a prestigious
group of investors, who will be instrumental in helping us bring our
solution to even more innovative brands seeking to meet the on-demand
needs of consumers," continued Andrew Klein, Chief Operating Officer.

Backbone PLM drives collaboration and clarity from design through
development and production. By enabling companies to see
cross-functional activity in real time through a single, customized,
cloud-based hub, Backbone PLM increases speed to market, product quality
and profits. Through the platform, design and production teams across
multiple geographies can collaborate seamlessly in real time, via any
device.

Prior to the launch of Backbone PLM, brands had to manually manage
inventory, product images, CAD files, size specs, purchase orders,
materials, color standards and billing, which often led to employee
errors, revenue losses and inventory miscalculations. Backbone PLM
enables companies to manage milestone calendars, create tech packs,
iterate designs, and track factory communications, samples, approvals,
cancellations, actions and purchase orders through to the end product.

"Consumer goods companies have been in desperate need of an automated
solution and scalable standard for streamlining design, development and
production," said Brandon Tidwell, Managing Director, Signal Peak
Ventures. "We quickly recognized Backbone PLM as a necessary and proven
productivity tool that shortens lead times and increases profitability
for companies. We are excited to continue working with the company and
to support its continued growth."

About Backbone PLM

Backbone PLM is a next-generation workflow solution that streamlines the
complex manufacturing process for consumer goods companies of all sizes.
The all-in-one product development platform boosts productivity, reduces
errors, improves visibility and helps companies get products to market
faster, increasing profitability. By centralizing all design,
development and production information, communications and process
history in one place in the cloud, Backbone PLM reduces the time design
and production teams need to spend meeting, emailing, hunting for data
and hounding counterparts for status updates. The company offers
automated data importing from clients' own systems and complete
onboarding, training and client support. Backbone was founded by fashion
and consumer goods industry veterans Matthew Klein and Andrew Klein. For
more information, visit BackbonePLM.com.

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