Tamarak to Fuel Utah Startups with Significant Growth Capital from Malouf™
The expanded multi-family office brings in veteran entrepreneurs Sam and Kacie Malouf as new partners to leverage Malouf's significant resources for Utah startups.
Jun 02, 2020, 10:00 ET
SPRINGVILLE, Utah, June 2, 2020 /PRNewswire/ -- Tamarak Capital announced it has expanded to a multi-family office with an external round of funding received from Sam and Kacie Malouf, founders of home furnishings and sleep technology company Malouf located in northern Utah. Finalized on May 12, the deal was identified as a strategic partnership for both parties.
"Partnering with such impressive entrepreneurs who have vision, flexibility, and significant resources is so impactful. It creates a capability that will only accelerate Tamarak's growth plans as we work together to help make awesome things happen for Utah startups," said Tamarak Partner and CFO Nate McBride.
Founded in 2016, Tamarak is a venture-focused family office with a portfolio of companies in myriad growth stages and industries. Most recently, they have invested in:
- Pura (home fragrance technology)
- Journeyfront (predictive hiring software)
- Hallo (English learning video app)
- Clear Home (a technology sales and integration company) and
- Habi (shared home-equity financing).
In addition to providing capital to each business, what really makes Tamarak stand out is its commitment to supporting and mentoring those companies in strategy, marketing, accounting and operations. In the words of Founding Partner Brent Hatch, "It's all about people."
Sam and Kacie Malouf bring a strong background in acquiring and growing companies, having built and acquired numerous home furnishings and technology brands that collectively generate significant revenue. Just last year, Malouf ranked No. 9 on the MountainWest Capital Network Top Revenue Growth Companies list. Tamarak Partner and CEO Keaton Hatch added, "Sam and Kacie Malouf have built a company with incredible expertise and resources. Having that expertise accessible to entrepreneurs is a massive benefit to the young companies within the Tamarak portfolio."
Known for an expansive, vertically-integrated business structure, Malouf in-house teams include distribution, sales, strategy, software development, product development, and marketing and creative—including one of the state's largest private video and photo studios.
Sam Malouf, co-founder of Malouf, shared, "Here at Malouf, we have fostered an organization that is a highly-efficient engine. By partnering with Tamarak, we are adding parts to the vehicle that will help leverage its potential. What we build together will be so much more than what we can accomplish alone."
Founded in 2003, today Malouf employs more than 500 people throughout Utah, Texas, Ohio, and North Carolina. Malouf has won several national awards for its culture and leadership including Inc. Best Workplaces and Glassdoor Top CEO. Malouf is also a Certified B Corporation®, meaning that as a company, they are concerned not only with revenue, but also with corporate social responsibility as it impacts society, workers, the community, and the environment. Malouf believes in a triple bottom line: planet, people, profits.
"We are excited to foster growth within these young companies. Together we can provide more jobs, share our culture, and do more good in the Utah community. Those are the things that really get us excited," said Malouf Co-Founder Kacie Malouf.
Initially, it was the company's charitable arm, the Malouf Foundation, that drew the attention of the Tamarak partners before a potential partnership was even discussed:
"Like all good love stories, it started with insurance," McBride joked. "We had a mutual contact in the insurance industry that was hosting a charity lunch last year. We joined the lunch and Sam and Kacie presented the Malouf Foundation. It was obvious that the foundation was real to them—it wasn't just a token cause. We were really impressed and knew we wanted to learn more about them, their foundation and their company."
Now united with Malouf, Tamarak is setting its sights on helping the next generation of Utah entrepreneurs and ultimately becoming the premier seed investor in Utah. "We are creating multiple avenues to achieve our vision. Partnering with Malouf is a huge step in that direction," Hatch said.
Watch this video to learn more about this new partnership and its vision for Utah entrepreneurs.
About Tamarak Capital
Founded in 2016, Tamarak is a venture-focused family office whose partners previously worked together to grow Profire Energy, a NASDAQ-listed oilfield technology company. Now, Tamarak combines its partners' experience in scaling high-growth ventures with additional personnel resources (e.g., marketing, accounting, operations, etc.) to help each investment succeed. They invest in talented, curious, and teachable founders who run scalable ventures and inspire those around them. Learn more: tmrk.com.
About Malouf™
A leader in the furniture and bedding industry, Malouf™ offers a wide range of innovative products including mattresses, adjustable bed bases, furniture, pillows, sheets, mattress protectors, bed frames and mattress toppers. Malouf™ products are available in over 15,000 retail partner locations in the U.S. and its growing international team now serves over 25 countries. Known for its commitment to quality, pricing and service, Malouf™ continues to expand its vertical integration and technology capabilities to better serve its customers with more than 350 global patents and trademarks. Malouf™, a Certified B Corporation®, was founded in 2003 by Sam and Kacie Malouf and is headquartered in Logan, Utah. To learn more, visit maloufsleep.com.
SOURCE Tamarak
