MARINA DEL REY, Calif., Feb. 3, 2020 /PRNewswire/ -- The Bouqs Company (Bouqs.com), the leading direct-to-consumer floral delivery company, announces today a $30M Growth Financing led by new investor Yamasa, a multi-national enterprise business based in Japan. This round of financing includes Pontifax AgTech along with existing investors Partech Partners, Azure Capital Partners and Next Equity, among others. Since its inception in 2012, The Bouqs Company has been disrupting the $18B US floral market with continued innovation and growth. With total financial backing of $74M, the company has quickly distinguished itself from other early stage startups in the space to compete with large incumbents for both customers and market share.
The new investment will further the development and growth of new services including the company's launch into brick-and-mortar retail and its existing subscription and wedding businesses. Funds will also support The Bouqs Company's expansion and growth into international markets, starting with Japan, where newcomer investor, Yamasa, is headquartered. The Bouqs Company has long aspired to be a global platform and in scouting a new market, Japan was identified as the perfect first step in expansion.
"The Bouqs Company's success in the United States along with their commitment to consistency, quality and sustainability was the impetus for our investment," says Norikazu Sano, SVP of Yamasa. "The domestic growth and unique business model inspired us to expand the business into Asia, starting with Japan, a $7B market lacking a true ecommerce leader in the category."
The company will also use the financing to expand into brick-and-mortar retail through partnerships with existing retailers and in The Bouqs Company branded stores, the first of which is scheduled to launch in Q2. This will enable the company to expand their Same Day Delivery services, which launched in October in Los Angeles, as well as full-service wedding and corporate services.
"This financing will enable us to fully realize our vision to create a global network of top quality farms paired with a category-defining local floral brand enabled by proprietary supply chain technology and vertically-integrated sourcing capabilities. We're so excited for this next phase of the business, and all of the opportunities that lie ahead," says John Tabis, Founder and Chief Executive Officer of The Bouqs Company.
You can learn more about The Bouqs Company by visiting http://www.bouqs.com or follow along at Instagram.com/thebouqs.co and facebook.com/thebouqsco.
About The Bouqs Company
The Bouqs Company is an online floral retailer that delivers flowers fresh from eco-friendly, sustainable farms to doorsteps, nationwide. Founded in 2012, The Bouqs Company was formed to radically disrupt the $100B global floral industry through a modern brand, responsibly-sourced flowers and a vertically-integrated supply chain. Headquartered in Marina del Rey, California, the company connects farms and a curated network of artisan florists directly to consumers, and disrupts the traditional supply chain by eliminating substantial overhead costs. In turn, this model enables a superior product and redefines the experience and economics for both consumers and producers alike. For more information, visit www.bouqs.com and follow the #BouqLove on Facebook, Instagram and Twitter.
Founded in 1967 and headquartered in Okayama, Japan, Yamasa is a leading multi-business enterprise and investor spanning the entertainment, aircraft, solar power, real estate and venture capital sectors across Asia and the United States.
SOURCE The Bouqs Co.