Paradigm Joins SendCutSend Series B at $2.1 Billion Valuation

Paradigm has joined a Series B financing valuing SendCutSend at $2.1 billion, continuing the crypto investment firm’s backing of a U.S. maker of custom metal parts.

Spark led the round, with CRV, MHS and Sequoia also participating. The $2.1 billion figure is SendCutSend’s valuation, not the amount raised in the financing.

Paradigm helped lead a $110 million financing that SendCutSend announced May 19. That earlier deal valued the Reno, Nevada, company at $1.01 billion.

Paradigm announced a $1.2 billion fourth fund July 8 covering crypto, artificial intelligence, robotics and other technologies. It identified SendCutSend as a rapid manufacturing investment.

Customers submit designs for parts that SendCutSend makes using sheet cutting, CNC machining and bending. The company listed facilities in Reno; Paris, Kentucky; and Arlington, Texas, in May.

SendCutSend founder and CEO Jim Belosic said, “I love taking VC dollars and putting it directly in the payroll.” The company announced a five-year commitment in May to invest $1 billion in U.S. manufacturing jobs and domestically produced materials. It also outlined more than $250 million to expand existing facilities and establish new hubs.