Bedding Startup Brooklinen Secures $10MM Series A
Brand Continues to Expand Direct-to-Consumer Footprint in Response to Massive Customer Demand
NEW YORK, March 16, 2017 /PRNewswire/ -- Brooklinen, America's fastest growing bedding company, has closed a $10MM Series A investment led by FirstMark Capital. The funding will enable Brooklinen to expand its home offerings, grow its team, scale production, and increase customer touch-points to meet the demands of its rapidly growing and devoted customer base.
Launched in 2014, Brooklinen was born from the shared dream of a husband-and-wife team dedicated to designing, creating and sharing the best sheets ever, at an accessible price-point. Brooklinen bypasses backend, middleman costs and leverages a better direct-to-consumer model to bring top quality, luxury-grade linens and bedding to market in a way that customers want, without the luxury price tag.
Brooklinen debuted its concept on Kickstarter in April 2014, securing $237k in grassroots funding through pre-sales, well exceeding its initial $50k goal. The brand has since expanded its offerings into other home products, including comforters, pillows, and blankets, proceeded to grow 10 times year-over-year through 2016, and closed its second year at $25MM revenue, all without institutional investment. In securing its Series A, Brooklinen will be empowered to continue to grow its product catalog and scale to meet the needs of its burgeoning community.
"From the start, our best ideas have been derived from our open dialogue with Brooklinen customers. With added financial resources, we'll be able to give our fans more of what they've been asking for," said Rich Fulop, co-founder and CEO, Brooklinen. "Constant consumer engagement drives everything we do, from product development to operations," added Vicki Fulop, co-founder and CCO, Brooklinen.
"Our customers feel a deep personal connection with the Brooklinen brand, and investment will enhance our ability to serve them and to build the ultimate end-to-end, consumer-dictated shopping experience."
FirstMark Capital's exceptional track record and New York roots made them the perfect partner to help propel Brooklinen into its next phase of growth. FirstMark has teamed up early with a number of great brands and companies, including Pinterest, Shopify, Riot Games, StubHub, and many others. The breakout bedding startup is in good company.
"Rich and Vicki are strong entrepreneurs who are disrupting the bedding industry with their vision for a better product and consumer experience," said Amish Jani, Partner, FirstMark Capital. "Home is a vast category that is ripe for new brands and business models. We believe Brooklinen has the power to reshape the industry, and ultimately transform the way people shop."
Following its $10MM Series A, Brooklinen counts new product offerings and category expansion among its imminent goals. To follow the brand's journey, please visit brooklinen.com and @brooklinen.
ABOUT BROOKLINEN
Launched in 2014, Brooklinen has established itself as the leading e-commerce disrupter of the overpriced and overcomplicated bedding industry, offering global customers a curated collection of stylish, luxury-grade linens at an accessible price-point. Based in Brooklyn, NY, the brand was founded on the philosophy that people deserve simple, beautiful home essentials without the luxury markup. By cutting out the middleman, Brooklinen manufactures responsibly and efficiently to offer exquisite design and exceptional savings, bringing effortless, affordable luxury to any home. Visit the brand at brooklinen.com and @brooklinen.
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SOURCE Brooklinen
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