Outer, a Santa Monica, Calif.-based direct-to-consumer outdoor furniture brand, raised $10.5m in Series A funding.
The round was led by Sequoia Capital China with participation from Andy Katz-Mayfield and Jeff Raider (Co-Founders of Harry’s), Justin Kan (Founder of Twitch), Jason Calacanis (Founder of LAUNCH Syndicate), Robin Chan (Founder of Goat Capital), Scott Tannen (Founder of Boll & Branch), Alex Pall and Drew Taggart of The Chainsmokers (investing via their newly announced Mantis Venture Capital), and many others, in addition to returning investors Mucker Capital, Social Starts, Unlock Venture Partners, Overtime VC, and Plum Ventures.
The company intends to use the funds to:
- grow the team,
- expand their product line beyond outdoor sofas and rugs,
- strengthen their commitment to sustainability through material development, and
- grow their innovative showroom footprint to more than a thousand Neighborhood Showroom locations in 2021.
Launched by Co-Founders Terry Lin and Jiake Liu in 2019, Outer is a direct-to-consumer brand that creates pieces expertly designed and carefully crafted from eco-friendly materials. Its Neighborhood Showrooms transport the traditional brick-and-mortar shopping model into their customer’s backyards. Shoppers can experience the Outer sofa in person in a real-life backyard and connect with others in the community.
Outer experienced 1000% increase in sales over last year. Earlier this fall, the company introduced the brand’s second product line, the eco-friendly 1188 Rug Collection, made from 100% recycled plastic water bottles.
The brand is currently exploring new pieces to expand their product line.
FinSMEs
12/01/2020