The key moments, with employee sentiment along the way.
2011
π±
2011
Founded out of the MIT Media Lab
Max Lobovsky and co-founders want pro-grade stereolithography on a desktop.
Wikipedia
2021
π
2021
The peak: a $2B SoftBank-led round$2B
A $150M Series E crowns the desktop 3D-printing leader a unicorn at its $2B high-water mark.
CNBC
2022β23
2022β23
The hardware bid cools
The venture and hardware downturn reprices still-private companies; the business keeps running, but the paper number sags.
CNBC
2023
π
2023
Slips out of the club
PitchBook's model marks it at about $820M (end of 2025), roughly 60% below peak β a quiet markdown, not a down round.
CNBC
2022β25
π¬
From the inside Β· Glassdoor reviews, 2022β25
Glassdoor reviews stayed mostly warm on the printers and the culture, but employees returned again and again to below-market pay and heavy manager turnover β and, tellingly for the markdown, to doubts that their stock options would pay off as the still-private company kept raising money and putting off an exit.
π¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β; dated facts carry their source.
How it happened
Formlabs is a desktop and industrial 3D-printing hardware company that reached a roughly $2B valuation in a 2021 funding round. Amid the broader hardware and venture downturn, third-party estimates (via PitchBook) put it at about $820M at the end of 2025 (roughly 60% below peak) β cooler private-market sentiment rather than a formal down round.
Source: PitchBook model estimate as of Dec 31, 2025 (CNBC's fallen-unicorn table, Jun 2026), not a priced round
Founders
Maxim Lobovsky
co-founder & CEO
Still there β Co-founder and CEO Β· LinkedIn β
