Farzad Dibachi has raised $275 million for his latest enterprise Inxeption. A pioneer of industrial commerce, Inxeption combines online selling, logistics, and financial services on one platform. Using cutting-edge technology such as blockchain and artificial intelligence, it aims to help customers “Do Business Better.”
Inxeption represents the latest in a long line of highly successful enterprises for Dibachi, its co-founder and CEO. Dibachi has also founded several other multi-million dollar startups in the Silicon Valley.
Farzad Dibachi’s successful career
Dibachi first worked at General Electric. He then landed a job as the senior vice president of new media at the Oracle Corporation. In 1995, he decided to co-found a microelectronics company with his brother. Microsoft reached out for an acquisition after 15 months, but Dibachi rejected it. He instead served as President and CEO of the company until it was sold 1997 for $75 million.
In 1998, Dibachi started a company with his wife Rhonda. The Niku Corporation was actually one of the first companies to provide its software as open source. It specifically specialized in software for consulting companies, law firms and advertising agencies. Going public in 2000 and underwrit by Goldman Sachs, its value tripled on the first day. It was also included on the Forbes 500 list in its first year. Dibachi would go on to sell it for $350 million.
The husband and wife team didn’t stop there. Having tried a stint at retirement, Dibachi found himself itching to go back to business life. In 2006, they founded Noribachi, an LED lighting product manufacturer for commercial and industrial applications. It ranked 224 on the 2015 Inc. 5000 list.
Farzad Dibachi pushes open doors
Dibachi originally hails from Iran. His family moved to America after the 1979 revolution. He completed two degrees at San Jose university: mechanical engineering and computer science. Dibachi met his wife at the Oracle Corporation and they married in 1988.
The serial entrepreneur credits Larry Ellison, CEO and CTO of Oracle, as a big influence in his life. “I learned that you need someone to give you an opportunity, to open a door that you had been knocking on. If it hadn’t been for Larry I would not be where I am today. He saw something in me and promoted me. I learned a lot from him,” he says.
Dibachi not only founds successful companies—he also writes. He co-authored a book titled Just Add Management: Seven Steps to Creating a Productive Workplace and Motivating Your Employees In Challenging Times. Dibachi’s philosophy revolves around accountability, setting clear tasks and facing challenges. “I have used this slogan in the past: “Don’t duck.” If you’ve got a job, do it. Don’t duck out of responsibility,” he asserts.
Farzad Dibachi: Inxeption
In 2017, Dibachi co-founded Inxeption with two other veteran software entrepreneurs Mark Moore and Terry Garnett. Their combined experience amounts to a vast amount of knowledge around the challenges of making, selling and shipping industrial products. This cloud-based digital commerce software platform just announced $275m in funding. It will be used “to support our growing platform and ecosystem so that we can be the best advocates for our customers,” Dibachi says.
Inxeption had a mammoth year in 2021. Their revenues grew over 400%, with a rapidly expanding customer base of over 1000 customers. Turning over $100 million, they launched the Inxeption Marketplace and Inxeption Financial Services. The company is now valued at £3 billion.
The team at Inxeption have a clear goal: to enable dynamic business communities that promote innovation, collaboration, and pride in craftsmanship. With this latest funding round secured and such massive revenues, Dibachi has lived up to the company’s slogan: “Let’s Do Business Better.”
Check out Inxeption here for more information about their services.
