Material Bank was founded by Adam I. Sandow to facilitate the overnight delivery of samples to the United States and Canada and connect manufacturers with architects and designers.

[2] Before April 2020, Material Bank had raised $27 million in funds in previous rounds led by Raine Ventures and Starwood Capital Group.

[6][9] In August 2021, Material Bank acquired full ownership of Clippings, an interior design procurement platform with offices in London, England, and Sofia, Bulgaria.

[17] It has its approximately 380,000-square-foot (35,000 m2) logistics facility in Olive Branch, Mississippi,[9] located five miles from the FedEx Express World Hub at the Memphis International Airport.

[3][18] The location allows Material Bank to ship all packages via Priority Overnight to guarantee orders placed by midnight Eastern Time Zone are delivered by 10:30 a.m. the following day.