Bengaluru: The wedding vendor marketplace Borrowed & Blue announces that it has picked $7 million in Series A round of funding from Boulder based Foundry Group with participation from Foxhaven Asset Management, Accomplice VC, Galvanize Ventures and Service Provider Capital. The funding will be utilized in reinforcing the product & marketing teams, launch nationally and unveil its transactional marketplace for the wedding industry. As of now, the company has lifted funds of $10.1 million. Foundry Group partner Jason Mendelson will be joining the Company's Board of Directors. More than 2.2 million couples get married in the U.S. every year and the average couple spends $24,000 on day-of wedding vendors, making weddings a $53 billion market.
Adam Healey, Co-Founder & CEO, Borrowed & Blue asserts, “It's absolutely crazy there's no place today to discover and book wedding vendors online. A typical wedding is comprised of 15 to 25 transactions that collectively will be the largest investment most couples have made in their lives up until that point. We're focused on helping everyone have the beautiful wedding of their dreams, and creating an efficient marketplace where couples can discover and book their wedding vendors. We like to think of our vision as providing couples with the ultimate operating system for their wedding”.
Virginia based Borrowed & Blue was founded by Adam Healey and his wife Christin in 2011 after facing a hard time in finding and vetting qualified vendors for their own wedding. The entity helps couples imagine, plan and book their dream wedding and connecting connect couples with wedding vendors across the United States, and is based in Charlottesville, Virginia, with additional offices in Boulder, Colorado. Borrowed & Blue is servicing millions of visitors a year, with 18,000 vendors already actively using the service online and via an iOS app, available in the App Store.