Total amount raised
$70 Million
Latest funding date
07/01/2022
Location
Verishop has successfully raised funding over six rounds, with the latest being a Series B. The company is backed by 14 investors, including Lion Capital and Montauk Ventures.
Keep reading to explore the intricacies of Verishop's fundraising journey and the investors backing this innovative platform.
What Is Verishop?
Verishop is a premium lifestyle company that offers everyday luxury in fashion, beauty, home, and more. The company operates in the consumer goods, e-commerce, internet, and lifestyle industries.
Founded in Santa Monica, California, Verishop has an employee count ranging from 51 to 100. The company has successfully raised funding through multiple rounds, with the latest being a Series B round.
How Much Funding Has Verishop Raised?
- Series A
- Amount Raised: USD 17,500,000
- Date: November 2018
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch and establish Verishop as a premium lifestyle e-commerce platform.
- Seed
- Date: November 2019
- Investor Count: 5
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and product development.
- Series B
- Amount Raised: USD 12,500,000
- Date: October 2019
- Investor Count: 5
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance platform capabilities.
- Series B
- Date: March 2020
- Investor Count: 5
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and improve customer experience.
- Series B
- Date: July 2021
- Investor Count: 1
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To address ongoing market challenges and support strategic initiatives.
- Series B
- Amount Raised: USD 40,000,000
- Date: July 2022
- Lead Investors: Lion Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To tackle supply chain issues and support smaller, independent retailers.
Total Amount Raised: USD 70,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Lion Capital
- Details: Lion Capital is a consumer-focused investment group. They led Verishop's $40 million Series B funding round.
- Investment Focus Areas: Consumer goods, retail, food and beverage.
- Notable Investments: Verishop, John Varvatos, AllSaints.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm that invests in the enterprise and consumer sectors. They were the lead investors in Verishop's Series A funding round.
- Investment Focus Areas: Enterprise technology, consumer, health.
- Notable Investments: Snap, GrubHub, Nest.
- Montauk Ventures
- Details: Montauk Ventures is a venture capital firm that focuses on early-stage investments. They are one of the major investors in Verishop.
- Investment Focus Areas: Technology, consumer goods, healthcare.
- Notable Investments: Not publicly disclosed.
What's Next for Verishop?
Verishop's future looks promising as it continues to support smaller, independent retailers by enhancing its platform capabilities. The company is investing in data insights and social networking tools, which can significantly boost sales and customer engagement. With over 4,000 brands and 1.4 billion pieces of inventory, the potential for growth is substantial.
Future fundraising opportunities seem likely, given the successful Series B round. Verishop may seek additional funding to scale operations and invest in advanced technologies like AI and data analytics. However, challenges such as supply chain issues and competition from giants like Amazon and Walmart could pose hurdles along the way.
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