Total amount raised
$39 Millions
Latest funding date
6/1/2024
Location
Untuckit has successfully raised significant funding over multiple rounds, attracting notable investors like Kleiner Perkins. The company specializes in casual shirts designed to be worn untucked, catering to a diverse range of body types.
Keep reading to explore the intricacies of Untuckit's fundraising journey and the investors backing this innovative apparel brand.
What Is Untuckit?
Founded in 2011 in New York, Untuckit specializes in casual shirts designed to be worn untucked. The company was established by Aaron Sanandres and Chris Riccobono.
Untuckit offers a variety of products, including button-down shirts, polos, pants, jackets, and more. Their unique selling point is the perfect untucked length, catering to various body types.
With a workforce of 101-250 employees, Untuckit continues to grow, expanding its product lines and opening new stores.
How Much Funding Has Untuckit Raised?
- Series A
- Amount Raised: $30M
- Date: June 2017
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth by opening 15 new stores, expanding the women's line, and launching children's apparel.
- Venture Round
- Amount Raised: $9M
- Date: June 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at supporting the company's growth, including plans to open 14 new stores in 2024.
Total Amount Raised: $39M. Current Valuation: Not publicly disclosed.
Key Investors
- Kleiner Perkins
- Details: Kleiner Perkins is a renowned venture capital firm that partners with entrepreneurs to build pioneering companies. They have a history of accelerating growth in disruptive businesses.
- Investment Focus Areas: Technology, Life Sciences, Consumer Products
- Notable Investments: Google, Amazon, Twitter
What's Next for Untuckit?
Untuckit is poised for significant growth, with plans to open 15 new stores, expand its women's line, and launch children's apparel. This expansion is fueled by a $30 million investment from Kleiner Perkins, highlighting the brand's potential in the direct-to-consumer market. The synergy between online and offline consumer engagement is a key industry trend that Untuckit is well-positioned to capitalize on.
Future fundraising opportunities seem likely as the company continues to grow. The successful raise from Kleiner Perkins suggests that additional funding rounds could be on the horizon to support further expansion. However, challenges such as managing rapid growth, scaling operations, and maintaining strong consumer engagement will be critical for Untuckit's continued success.
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