HomefundingBeachMint Secures $23.5M

BeachMint Secures $23.5M

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BeachMint, a Santa Monica, CA-based social commerce company selling celebrity–curated direct-to-consumer products, has secured a $23.5m in funding.

The round was led by Scale Venture Partners and Lightbank, with participation from existing investors New Enterprise Associates, Trinity Ventures, and Anthem Ventures.

The company intends to use the new capital to grow its existing jewelry site, JewelMint, curated by Kate Bosworth and Cher Coulter, launch an apparel line StyleMint (July 1) with Mary-Kate and Ashley Olsen, and expand into two additional verticals by the end of 2011.

In conjunction with the funding, Scale Venture Partners’ Managing Director, Sharon Wienbar, will join the company’s Board of Directors. In addition, Lightbank will take an Observer seat on the Board.

BeachMint,  which was founded by MySpace Co-Founder, Josh Berman, and serial tech entrepreneur, Diego Berdakin, is currentlyhiring engineers, operational and marketing employees.

FinSMEs

18/06/2011

Related News: BeachMint Closes $10M Financing Round