Powered by People (PBP) Company Profile

Background

Mission and Vision

Powered by People (PBP) is dedicated to enabling makers of responsibly produced goods by providing them access to markets, financing, and digital tools. The company's vision is to democratize a global, sustainable economy that is powered by people.

Primary Area of Focus

PBP operates as a B2B wholesale platform connecting independent brands and small-batch makers from over 70 countries with retailers, primarily in North America. The platform emphasizes ethical and sustainable business practices, aiming to bridge the gap between artisans and global markets.

Industry Significance

The handmade and small-batch production sector is one of the fastest-growing global industries, yet it faces challenges due to communication and digital shortcomings. PBP addresses these issues by providing a curated digital marketplace, facilitating transparent and efficient transactions between buyers and makers.

Key Strategic Focus

Core Objectives

Market Access: Facilitate entry for small-batch makers into global markets.

Financing Solutions: Provide financial support to makers to scale their businesses.

Digital Tools: Offer technological solutions to streamline operations and enhance visibility.

Areas of Specialization

Ethical Sourcing: Emphasis on products that are responsibly made.

Sustainable Practices: Commitment to environmental and social governance.

Cultural Heritage: Promotion and preservation of authentic cultural identities through products.

Key Technologies Utilized

PBP Produce Tool: Allows both makers and buyers to virtually track the manufacturing process, adding transparency to transactions.

Digital Marketplace Platform: A curated platform enabling seamless transactions between buyers and makers.

Primary Markets Targeted

North America: Major focus on connecting makers with retailers in this region.

Global Expansion: Continuous efforts to expand the community of makers and buyers worldwide.

Financials and Funding

Funding History

Seed Round (March 2021): Raised $1.5 million.

Seed Round (January 2022): Raised $5 million, led by Susa Ventures, with participation from Flexport Fund, Golden Ventures, and JVentures.

Series A (March 2023): Raised over $8 million, led by Altos Ventures, with participation from Golden Ventures and Susa Ventures.

Notable Investors

Altos Ventures

Susa Ventures

Golden Ventures

Flexport Fund

JVentures

Utilization of Capital

The funds have been directed towards scaling operations, enhancing the digital platform, expanding the network of makers and buyers, and providing financing solutions to makers.

Technological Platform and Innovation

Proprietary Technologies

PBP Produce Tool: Enables real-time tracking of the manufacturing process, ensuring transparency and trust between buyers and makers.

Scientific Methodologies

Digital Readiness Assessments: Evaluates makers' business practices, production capabilities, and compliance with social, environmental, and governance standards.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed, PBP leverages technology to streamline operations, enhance user experience, and provide data-driven insights to both makers and buyers.

Leadership Team

Ella Peinovich: Founder & CEO. Previously built the independent brand SOKO, acquired by Essense Ventures in 2022. MIT graduate with experience in building global enterprises.

Hedvig Alexander: Founder & VP of Community and Impact. Founded Far + Wide Collective, a global sourcing network of over 5,000 artisans. Former captain of the Danish army and Yale graduate.

Alison Phillips: Founder & VP of Merchandising and Design. Founded lifestyle home brand Caban, sold to Ralph Lauren. Led merchandising at Aritzia and industrial design at BlackBerry, holding over 100 patents.

Kris Zanuldin: VP of Product and Engineering. Led Product for Amazon Pay and built financial services at American Express, with experience in AI and fintech solutions across retail technology partners.

Competitor Profile

Market Insights and Dynamics

The global handmade and small-batch production sector is projected to reach $1 trillion by 2024. Despite its growth, the sector faces challenges in digitization and market access.

Competitor Analysis

Creoate: A venture capital-backed company based in London, UK, operating in the specialty retail industry.

BitWine: Develops and operates multiple marketplaces for online services across various markets.

Designhill: An online graphic design marketplace connecting designers with customers.

Haizol.com: An integrated industrial chain service platform focused on industrial components.

Bloom Procurement Services: Provides a marketplace enabling buyers and suppliers to buy and manage professional services.

Strategic Collaborations and Partnerships

TRANSFORM Initiative: Collaborated to bring digital tools to PBP's pipeline of 5,000 small-batch makers, providing access to global markets and developing a unique blended capital model.

Unilever (TRANSFORM) and Mastercard Foundation: Embarked on projects to expand digitalization and access to financing for makers globally.

Operational Insights

Strategic Considerations

PBP's commitment to ethical and sustainable practices, combined with its technological innovations, positions it uniquely in the market. By addressing the challenges faced by small-batch makers, PBP enhances its competitive advantage.

Market Position

PBP stands out by offering a curated digital marketplace that emphasizes transparency, ethical sourcing, and sustainability, catering to the growing demand for responsible consumerism.

Competitive Advantages

Global Reach: Connecting makers from over 70 countries with buyers, primarily in North America.

Technological Integration: Utilizing proprietary tools like PBP Produce to enhance transparency and efficiency.

Ethical Commitment: Strong emphasis on sustainability and responsible sourcing, appealing to conscious buyers.

Strategic Opportunities and Future Directions

Strategic Roadmap

Platform Enhancement: Continuous improvement of the digital marketplace to enhance user experience and operational efficiency.

Market Expansion: Extending reach to additional global markets beyond North America.

Product Diversification: Introducing new categories and products to cater to evolving consumer preferences.

Opportunities for Expansion

Partnerships: Collaborating with more global brands and retailers to increase market penetration.

Technology Integration: Leveraging AI and data analytics to provide personalized experiences and insights.

Sustainability Initiatives: Furthering commitments to environmental and social governance to attract eco-conscious consumers.

Positioning for Future Objectives

PBP's current strengths in ethical sourcing, technological innovation, and global connectivity position the company to capitalize on the growing demand for sustainable and responsibly made products.