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Boxed, Inc. Announces Up To $20 Million Of New Financing

PRIVATEJan 20, 2023•over 3 years ago

Amount Raised

$20 Million

New YorkE CommerceFashionRetailMen's

Description

Boxed, Inc. (NYSE: BOXD, BOXD WS) (“Boxed” or the “Company”), the commerce technology company specializing as both an e-commerce retailer and e-commerce enabler, today announced it entered into a second lien secured term loan facility with a lender (the “Lender”) that provided $10 million of new funding to the Company at close. The new facility also provides for an additional $10 million in funding, subject to the completion of certain milestones in a process for the sale of the Company. Concurrently with the financing with the Lender, the Company entered into an amendment to its existing first lien debt facility with funds and accounts managed by BlackRock that, among other things, reduces the Company’s minimum liquidity covenant by $5 million.

Company Information

Company

Boxed

Location

New York, United States

About

Boxed is an e-commerce retailer and an e-commerce enabler. The Company operates an e-commerce retail service that provides bulk pantry consumables to businesses and household customers, without the requirement of a “big-box” store membership. This service is powered by Spresso, the Company’s own Software & Service business. From solving challenges with data using machine-learning modules to re-platforming with end-to-end technology, Spresso’s purpose-built storefront, marketplace, analytics, fulfillment, advertising, and robotics technologies enable better business outcomes for e-commerce customers. The Company aspires to make a positive social impact with an emphasis on good Environmental, Social and Governance practices, and as such, has developed a powerful, unique brand, known for doing right by its customers, employees and society. For more information, please visit investors.boxed.com.

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Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals — including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications — based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 200,000+ companies. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.

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