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Fictiv

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Fictiv Company Profile



Background



Founded in 2013, Fictiv is a San Francisco-based digital manufacturing company that streamlines the production of custom mechanical parts. The company's mission is to simplify sourcing for custom manufacturing, enabling product innovators to create without constraints. Fictiv envisions a world where barriers to manufacturing innovation are significantly reduced, empowering entrepreneurs with the necessary supply chain access and tools for success.

Key Strategic Focus



Fictiv's strategic focus centers on providing a comprehensive digital platform that connects companies with a global network of vetted manufacturing partners. This platform offers instant quoting, design for manufacturability feedback, and automated production updates, facilitating rapid prototyping and production. By integrating various manufacturing technologies—including CNC machining, injection molding, 3D printing, urethane casting, sheet metal fabrication, die casting, and compression molding—Fictiv addresses the diverse needs of industries such as aerospace, medical devices, robotics, and consumer products.

Financials and Funding



As of May 2022, Fictiv has raised a total of $192 million in funding. The most recent Series E funding round, amounting to $100 million, was led by Activate Capital and included new investors such as Angeleno Group, Cross Creek, and The Westly Group, along with existing investors like Accel, Bill Gates, G2 Venture Partners, and Standard Investments. This capital infusion is intended to enhance Fictiv's platform capabilities, expand its global footprint, and invest in sustainability initiatives within the manufacturing industry.

Technological Platform and Innovation



Fictiv's proprietary digital platform serves as the operating system for custom manufacturing, offering:

  • Instant Quoting and Design for Manufacturability (DFM) Feedback: Utilizing AI-powered analysis, the platform provides immediate pricing and manufacturability insights, enabling engineers to make informed decisions swiftly.


  • Global Manufacturing Network: Fictiv manages a network of over 250 vetted manufacturing partners across the U.S., China, India, and Mexico, ensuring quality and scalability.


  • Comprehensive Manufacturing Capabilities: The platform supports a wide range of manufacturing processes, including CNC machining, injection molding, 3D printing, urethane casting, sheet metal fabrication, die casting, and compression molding, catering to both prototyping and production needs.


Leadership Team



  • Dave Evans, Co-founder & CEO: Dave leads Fictiv's vision to provide world-class manufacturing and supply chain capabilities to innovators. Prior to founding Fictiv, he was the first hire at Ford’s Silicon Valley Innovation Lab under the Global Research and Advanced Engineering Division. Dave holds a B.S. in Mechanical Engineering from Stanford University.


  • Nathan Evans, Co-founder & CXO: As Chief Experience Officer, Nathan is responsible for creating a customer experience that enables teams to unlock their full creative potential. He also leads Fictiv's business strategy. Before Fictiv, Nathan worked at Seven Hills Partners, advising enterprise and high-growth technology companies. He earned his degree in International Relations and a master's in Chinese from Stanford University.


Competitor Profile



Market Insights and Dynamics



The digital manufacturing industry is experiencing significant growth, driven by the increasing demand for rapid prototyping, custom manufacturing, and supply chain agility. Companies are seeking solutions that offer speed, quality, and flexibility to accelerate product development and respond to market changes effectively.

Competitor Analysis



Key competitors in the digital manufacturing space include:

  • Xometry: Offers an on-demand manufacturing platform with a broad range of capabilities, including CNC machining, 3D printing, and injection molding.


  • Protolabs: Specializes in rapid prototyping and low-volume production, providing services such as CNC machining, injection molding, and 3D printing.


These competitors focus on providing quick turnaround times and a variety of manufacturing processes to meet diverse customer needs.

Strategic Collaborations and Partnerships



Fictiv has established significant partnerships to enhance its market position and innovation capacity. Notably, the company has collaborated with industry leaders such as Honeywell, Intel, and Bill Gates, who are among its investors. These partnerships provide strategic support and resources, enabling Fictiv to expand its capabilities and reach.

Operational Insights



Fictiv's strategic considerations in relation to major competitors focus on its distinct competitive advantages:

  • Integrated Digital Platform: Combines AI-powered tools with hands-on guidance, offering a seamless experience from quote to delivery.


  • Global Manufacturing Network: Provides access to a wide breadth of capabilities through a highly vetted network, ensuring quality and scalability.


  • Customer-Centric Approach: Emphasizes exceptional customer service and high-quality parts, as recognized by industry experts.


Strategic Opportunities and Future Directions



Fictiv's strategic roadmap includes:

  • Platform Enhancement: Investing in tools to improve the customer experience for engineers submitting projects, including AI-driven design simulations and manufacturability assessments.


  • Global Expansion: Extending its presence in key manufacturing regions such as China and India to diversify its supply chain and enhance resilience.


  • Sustainability Initiatives: Developing tools to calculate the carbon footprint of various manufacturing approaches, aiming to provide more sustainable options for customers.