CustomInk, a Tysons Corner, Va.-based custom t-shirt company for groups and occasions, raised $40m in funding.
The Revolution Growth fund made the investment. In conjunction with the transaction, Ted Leonsis, co-founder of Revolution Growth, will join CustomInk’s board of directors.
The company intends to use the capital to fund new growth initiatives.
Founded in 2000 by president Marc Katz, CustomInk operates Customink.com, which enables people to design and order custom t-shirts and accessories for their clubs, companies, charities, family reunions, etc.
Its online Design Lab offers customers a selection of art and fonts, including offerings from the renowned design firms of Charles S. Anderson™ and House Industries™, as well as the option to upload their own artwork.
The company, which has additional offices in Reno, NV and Charlottesville, VA, recently launched Booster, a new platform designed to help people raise money and rally support for their causes, loved ones, groups and projects through the online sale of custom t-shirts and is developing a sponsorship platform, called Pear (www.PearUp.com), to enable brand sponsorship of groups and occasions on a grassroots level.
It currently delivers approximately 20 million t-shirts per year, employs more than 800 people and is approaching $200 million in annual revenues.