Everlane has successfully raised $1.2 million over two funding rounds, with the latest round occurring in March 2013. The company is known for its commitment to exceptional quality, ethical factories, and radical transparency.
Keep reading to explore the intricacies of Everlane's fundraising journey and the investors backing this innovative platform.
What Is Everlane?
Everlane, founded by Michael Preysman in 2011, is headquartered in San Francisco. The company is renowned for its commitment to ethical manufacturing and radical transparency.
Everlane partners with ethical factories worldwide, sources premium materials, and shares detailed cost breakdowns with customers. This approach ensures that consumers are well-informed about the origins and costs of their purchases.
With a team of 51-200 employees, Everlane continues to grow and innovate in the B2C market, making ethical choices accessible and stylish.
How Much Funding Has Everlane Raised?
- Amount Raised: $1,100,000
- Date: April 2011
- Lead Investors: Jonathan Golden, 14W, Matt Humphrey, Dave Morin, Karl Jacob, Maveron, betaworks, Kleiner Perkins, SV Angel
- Motivation Behind the Round: To support the launch and development of Everlane's e-commerce platform, offering high-quality, designer goods at affordable prices.
- Amount Raised: $100,000
- Date: March 2013
- Motivation Behind the Round: To scale operations and expand market reach.
Total Amount Raised: $1.2M
Current Valuation: $1.2M (~estimated)
Key Investors
- Kleiner Perkins
- Details: Kleiner Perkins is a renowned venture capital firm that has been investing in early-stage and growth companies since 1972. They are known for backing some of the most successful tech companies in Silicon Valley.
- Investment Focus Areas: Technology, life sciences, growth-stage companies
- Notable Investments: Google, Amazon, Twitter
- SV Angel
- Details: SV Angel is a seed fund that invests in early-stage companies, particularly in the technology sector. They have a strong track record of identifying and supporting promising startups.
- Investment Focus Areas: Early-stage technology startups
- Notable Investments: Airbnb, Dropbox, Pinterest
- Lerer Ventures
- Details: Lerer Ventures, now known as Lerer Hippeau, is a venture capital fund that focuses on media and technology companies. They have a reputation for investing in innovative and disruptive startups.
- Investment Focus Areas: Media, technology, consumer internet companies
- Notable Investments: BuzzFeed, Warby Parker, GroupMe
- Betaworks
- Details: Betaworks is a startup studio and seed-stage venture capital company that builds and invests in early-stage technology startups. They are known for their hands-on approach to nurturing new companies.
- Investment Focus Areas: Seed-stage technology startups
- Notable Investments: Tumblr, Bitly, Giphy
- Keith Rabois
- Details: Keith Rabois is an angel investor and executive with a notable career in the tech industry, having worked with companies like PayPal, LinkedIn, and Square. He is known for his strategic insights and leadership.
- Investment Focus Areas: Technology, consumer internet companies
- Notable Investments: PayPal, LinkedIn, Square
What's Next for Everlane?
Everlane's future is brimming with opportunities. The company aims to expand its product lines and enhance its personalized shopping experience, tapping into the growing demand for high-quality, affordable basics. By leveraging member feedback and launching new collections monthly, Everlane is poised to capture a significant market share in the e-commerce space.
As Everlane continues to grow, future fundraising opportunities are likely. The company may attract additional high-profile investors and venture capital firms, enabling further expansion and innovation. However, challenges such as maintaining product quality while scaling operations and competing with other well-funded startups remain.
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