Maisonette Closes $30 Million Series B Funding Led By G Squared, With Previous Investors NEA And Thrive Capital
Alibaba & Lazada's Pierre Poignant Joins Tech Veteran Marissa Mayer as Independent Board Member
Marketplace Leader Aggregates $630 Billion Children's Market, Sees 3X Growth in 2020, Hires Executive Team from Top Digital Brands to Drive Expansion
NEW YORK, Feb. 11, 2021 /PRNewswire/ -- Nearly every consumer vertical has been aggregated, establishing one brand as the de facto destination for a market -- with one exception: the highly fragmented, $630 billion children's products market. Maisonette, an expertly curated marketplace featuring the best children's products from around the globe, today announced that it has raised $30 million in Series B funding led by G Squared, with previous investors NEA and Thrive Capital also participating. Maisonette previously raised a $15 million Series A round in 2018, bringing the total raised to more than $50 million.
In addition, Maisonette announced that Pierre Poignant, co-founder of Lazada and Special Assistant to the CEO and Chairman of Alibaba, has joined Marissa Mayer as an Independent Board member. The new capital will be used to build a next-generation technology and data platform to enhance personalization for both customers and sellers, as well as to fund international expansion and scale the team.
"As consumers went online for more and more of their shopping needs over the last year, we saw demand for Amazon alternatives grow," said Larry Aschebrook, Managing Partner, G Squared. "Maisonette was positioned well and responded quickly to the shift by offering merchandise that consumers sought, 40 percent of which is exclusive to Maisonette or is hard to find elsewhere. Maisonette delivered a timely and robust platform that many retailers needed to reach a large, collective audience of shoppers online."
Over the last four years, Maisonette has become a trusted brand and the destination for modern-day families of every kind, and sellers of all sizes. Maisonette aggregates the children's products market with a relevant, online experience that enables people to shop across categories with guidance from a team of category experts. With the acceleration of ecommerce, the company has seen nearly 3x growth during this past year. Today, Maisonette has scaled to:
- Over 900 brands across top market categories: apparel and accessories, home furniture and decor, toys, gear, and wellness
- More than 25,000 products on the site, with 1,400 new products each month; and
- Launching its own everyday basics private label, Maison Me, to address the $35B+ US Children's apparel market, which has become one of the marketplace's fastest growing brands.
To support the company's rapid growth, the founders have hired a seasoned, senior executive team from top digital and consumer brands, including Walmart/Jet.com, Casper, Rent the Runway, Birchbox, and Pager. In 2021, the company will continue to expand the platform to more sellers and invest in business development for new revenue streams.
"We were convinced early on and have invested in every round to date because the Maisonette founders have stayed true to their vision and executed at scale, ahead of schedule," said Tony Florence, General Partner and Head of Technology Investing at NEA. "Investment now in a proprietary technology platform powered by data will benefit the business with deeper personalization and even more relevant engagement between brands and customers."
Maisonette has done the heavy lift of shopping online for children by procuring a variety of global brands and products into one online experience that spans all categories. The in-house team of category experts vets all products to offer a unique voice and perspective on what is 'best' in the market at different price points.
"Our mission is to help modern families navigate the adventure of raising the next generation both through the products they buy and the content they consume," said Sylvana Ward Durrett, Co-founder and CEO, Maisonette. "Millennial parents are the fastest growing group starting families, having children later in life, with more disposable income. More attention- and time-strapped than ever, they prioritize quality and trusted advice for what they value most in life, their children."
"We are inspired by the trusted brand Whole Foods built and the lasting competitive advantage this created as it aggregated a highly fragmented industry. Customers delight in shopping for both food staples and new brands, knowing any choice will be a quality purchase because it was curated by Whole Foods," said Luisana Mendoza de Roccia, Co-Founder and President, Maisonette. "Similarly, Maisonette is the modern-day, family brand aggregating the children's market. Families trust our curation across thousands of products whether they come to us for a stroller, play clothes, or toys."
About Maisonette
Maisonette is a modern-day, family brand built on trust, relevance, and inclusivity; a brand that connects with every kind of family. The company was founded by two moms in 2017 with the goal of helping modern families navigate the adventure of raising the next generation. Today, Maisonette provides an expertly-curated marketplace featuring the best children's products from around the globe: stylish clothing, innovative toys, top gear, and home décor – plus, guidance and inspiration. Join our world by visiting Maisonette.com and following us on Instagram @maisonetteworld.
SOURCE Maisonette
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