The company has been successful in shaking up the oversaturated, wholesale dominated swimwear market by offering high quality, size-inclusive, and eco-friendly swimwear without the designer price tag. Summersalt recently debuted its highly anticipated apparel collection that focused on travel essentials like cashmere sets, packable jackets, and wrinkle-free pants
Fremont, CA: Direct to consumer travel wear brand Summersalt raised USD 17.3 billion in a Series B funding round led by Mercato Partners and participated by Founders Fund, Lewis and Clark Ventures, Revolution's Rise of the Rest Seed Fund, Dundee Venture Capital, and Victress Capital. The St. Louis based company plans to expand its branches into other apparel categories following the brand's overwhelming success in the swimwear category and recent travelwear launch. With the new round of funding, the company's total raised capital stands at USD 26 million.
"We are building a generation-defining travel brand that goes beyond swimwear and apparel to create a community of curious women who love to explore. Our unparalleled experience in apparel, deep supply chain expertise, and fit-technology will be at the foundation as we continue to scale and build a brand with highly profitable unit economics," said Lori Coulter, Co-Founder, CEO, and President.
The company which was launched in 2017 has become one of the fastest-growing and most disruptive brands in the swimwear industry. The company has been successful in shaking up the oversaturated, wholesale dominated swimwear market by offering high quality, size-inclusive, and eco-friendly swimwear without the designer price tag. Summersalt recently debuted its highly anticipated apparel collection that focused on travel essentials like cashmere sets, packable jackets, and wrinkle-free pants.
"From the moment we launched Summersalt, our goal was to own every corner of our customer's suitcase, and with this latest round of funding, we are one step closer to this. We are thrilled to continue to establish ourselves as the destination for women who are traveling and continue to go above and beyond to deliver great products to our consumer," said Reshma Chattaram Chamberlin, Co-Founder, Chief Brand, and Digital Officer. The expansion marked a pivotal point for the brand and came at the most convenient time in their growth trajectory. With millions of customers coming to their site to purchase a swimsuit for a vacation, Summersalt capitalized on the opportunity with their expansion into travel-friendly apparel and accessories.
"We could not be more thrilled with the opportunity to lead Summersalt's latest funding found, and partner with two passionate founders who have a clear vision, are mission-driven and have a track record for accelerated performance. The product, brand, team, and the incredible consumers make for a winning combination," said Joe Kaiser, Director of Mercato Partners.
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