Acumen Brands, a Fayetteville, Ark.-based ecommerce company, has raised $5m in Series B funding.
The round was led by fashion apparel and home furnishing retailer Dillard’s (NYSE:DDS), which invested $4m, with participation from existing investors Noro-Moseley Partners, BLH Venture Partners, the Gravity Fund and the Arkansas Risk Capital Matching Fund.
Founded in 2009 and led by CEO John James, M.D., Acumen, Acument operates twelve online retailers in twelve different niche categories, supported by proprietary software and advanced fulfillment systems. It offers branded storefronts for a variety of professions and lifestyles including medical uniforms (www.scrubshopper.com), work wear (www.toughweld.com), and western wear (www.countryoutfitter.com).
Dillard’s and Acumen plan to work together to enhance both Dillards.com and Acumen’s online sites.
Acumen will offer technological marketing services and support to enhance Dillard’s online presence, while Dillard’s Vice President Kent Burnett will serve on the Company’s board to provide strategic guidance for the company.
Acumen currently has seventy employees.