Maisonette concludes $15 m Series A round of financing

29 May '18

3 min read

Courtesy: Maisonette

Maisonette, the premier online baby and children's fashion and lifestyle destination, has closed an oversubscribed $15 million Series A round of financing. The company's previous seed investor, New Enterprise Associates (NEA), among the largest venture capital firms with investments in Jet.com, Diapers.com, Casper, Goop and Moda Operandi, led the funding.

Pritzker Group Venture Capital, whose investments include the Honest Company, Dollar Shave Club and Casper, and John Fisher of Draper Fisher Jurvetson are new investors in this round. Additional investors returning to participate in the round include Thrive Capital, an early investor in Warby Parkerand Glossier, Lizzie & Jonathan Tisch, Vivi Nevo, Andrew Rosen and Marcus Wainwright.

Launched in March 2017 by Vogue magazine veterans, Sylvana Ward Durrett and Luisana Mendoza-Roccia, Maisonette exclusively curates the best children's products across all categories from apparel and accessories to toys, furniture, home décor and gear. Maisonette is the ultimate online shopping destination addressing this $300 billion plus, highly fragmented market.

"Today 90 per cent of new parents are millennials who are shopping for their children in a completely different way and who value selection, quality and design when selecting products for their families. Our goal is to be the definitive shopping and editorial destination for children's fashion and lifestyle in the digital age across all categories and price points," says Luisana Mendoza-Roccia, COO and co-founder of Maisonette.

"Maisonette has quickly become the authority and leading brand in this high-growth, under-penetrated category. In just a year, they have established a devoted following of both customers and brands alike. I have no doubt that Maisonette is on its way to become the future of children's online retail, and we are excited to be a part of it," says Tony Florence, general partner and head of technology investing at NEA.

The marketplace aggregates over 500 stylish children's brands and boutiques from around the world and has created a platform that has transformed the way consumers shop for their children and brands build their businesses. "Not only do we give our customers access to the best products from around the world, we also give these companies a platform on which to grow their business, market their brand and connect to their customer in a targeted and authentic way. We are the solution for both the customer and the vendor," says Durrett.

As parents of young children, Durrett and Mendoza-Roccia grew frustrated with the lack of a consolidated children's online retail destination. The former style editors built their highly curated platform from the ground up to provide parents with a trusted one-stop solution. "Sylvana and Luisana are authentic, compelling founders, filling a void by creating an elevated online destination for children's products and content. Their impressive collective experience has enabled them to build a product assortment advantage," said Sonia Nagar, vice president at Pritzker Group Venture Capital.

"Our focus for year one was to create a strong brand and build supply. Now we are excited to partner with these world-class technology investors to continue to scale our e-commerce and mobile technology platform and build a powerful editorial platform to serve our audience as the ultimate resource for both content and commerce for children," says Durrett. (SV)

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