Poppin Announces $11.1 Million Series B Financing
TrilogyGrowth, Shasta Ventures back innovative work-lifestyle company
NEW YORK, May 2, 2013 /PRNewswire/ -- Poppin (http://www.poppin.com), an innovative office products company defined by original designs and an unparalleled customer experience, announced today it has raised $11.1 million in Series B financing. The funding will be used to expand the product selection and drive continued customer acquisition.
TrilogyGrowth, a Canadian growth stage investment fund run by former Indigo Books & Music president Joel Silver, led this round with continued participation from Shasta Ventures, First Round Capital and company founder J. Christopher Burch. There was additional participation from a small group of angel investors, including TechStars founder, David Tisch. Silver, Managing Partner of TrilogyGrowth, will be joining Poppin's board.
"Having helped build Canada's leading lifestyle retailer, Indigo Books & Music, to nearly $1 billion in annual sales, Joel brings with him extensive experience in both e-commerce and retail stores," explained Randy Nicolau, CEO of Poppin. "His unique understanding of omni-channel retailing is particularly pertinent for Poppin in this period of growth."
"I'm very excited about our investment in Poppin," said Joel Silver. "TrilogyGrowth invests in companies focused on solving consumer needs through distinctive products and services. We seek investments in opportunistic companies building brands, Poppin is doing just that."
Poppin launched in September 2012 to be the first consumer brand that makes buying, using, looking at and thinking about office products an extraordinary experience. Over the last six months the company has seen explosive growth with both consumer and business customers. In this period, Poppin has rapidly scaled to accommodate a growing direct-to-consumer business while building an impressive corporate client list that includes Fab.com, Kate Spade, LinkedIn, Pandora, Rachel Zoe Media Group, SalesForce Marketing Cloud and Warby Parker.
"Moving forward we will expand the product offering, with a particular focus on growing our nascent furniture collection," noted Nicolau. "We will remain dedicated to creating an exceptional customer experience that surprises and delights at every touch point. Ultimately, with this investment, we aim to roll out new products that define the 'WorkStyle' space and help people to Work Happy."
Poppin, Inc, is an innovative online retailer offering a distinctive collection of chic yet affordable workstyle products and an engaging shopping experience. Established with the unique mission to provide people with everything they need to work happy, Poppin intends to become the first company that makes buying, using, looking at, and thinking about office products an extraordinary experience. The company is privately held and financed by J. Christopher Burch, Shasta Ventures, First Round Capital, TrilogyGrowth and a group of angel investors, including David Tisch.
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