Total amount raised
$60 Millions
Latest funding date
Location
Brooklinen has successfully raised significant funding through private equity, with notable investors including Freeman Spogli and Summit Partners. The company specializes in manufacturing and supplying high-quality bed and bath linens, as well as loungewear.
Keep reading to explore the intricacies of Brooklinen's fundraising journey and the investors backing this innovative company.
What Is Brooklinen?
Brooklinen, founded in 2014 by Rich and Vicki Fulop, is a prominent player in the home decor, manufacturing, and retail industries. The company is headquartered in Brooklyn, New York, and employs between 101 and 250 people.
Specializing in high-quality bed and bath linens as well as loungewear, Brooklinen has carved a niche by offering premium products at fair prices. The company eliminates middlemen and additional costs associated with wholesaling and physical storefronts, ensuring value for its customers.
How Much Funding Has Brooklinen Raised?
- Seed Round
- Amount Raised: $20K
- Date: August 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the business and develop initial product offerings.
- Series A
- Amount Raised: $10M
- Date: March 2017
- Lead Investors: FirstMark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand product offerings.
- Series B
- Amount Raised: $50M
- Date: March 2020
- Lead Investors: Summit Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To open more brick-and-mortar stores and expand internationally.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: Freeman Spogli
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and scale operations.
Total Amount Raised: $60.02M
Current Valuation: Not publicly disclosed
Key Investors
- Freeman Spogli
- Details: Freeman Spogli is a private equity firm that has invested in Brooklinen. The firm focuses on partnering with management teams to build leading companies in the consumer and distribution sectors.
- Investment Focus Areas: Consumer products, retail, distribution.
- Notable Investments: Brooklinen, El Pollo Loco, Planet Fitness.
- Summit Partners
- Details: Summit Partners is a growth equity firm that invested $50 million in Brooklinen. The firm is known for investing in companies with strong profitability and sustainable growth models.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Uber, Avast, McAfee.
- FirstMark Capital
- Details: FirstMark Capital is a venture capital firm that invested $10 million in Brooklinen in 2017. The firm focuses on early-stage technology companies.
- Investment Focus Areas: Consumer technology, enterprise software, healthcare.
- Notable Investments: Pinterest, Shopify, Airbnb.
What's Next for Brooklinen?
Brooklinen's future looks promising with significant opportunities on the horizon. The company plans to open more brick-and-mortar stores and expand internationally, leveraging the $50 million raised from Summit Partners. This expansion is expected to capitalize on the growing demand for high-quality home comfort goods, including loungewear, robes, and bath rugs.
Future fundraising opportunities seem likely, given Brooklinen's strong market presence and profitability. The company's sustainable growth model and recent financial backing make it an attractive candidate for further investments. However, challenges such as maintaining profitability during expansion and managing customer acquisition costs will need to be addressed.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Brooklinen and gather other critical business insights.
Sign up for free to start exploring the wealth of information available at your fingertips and make informed decisions that drive success.
