- Danielle Wightman-Stone |
Maisonette, the online baby and children's fashion and lifestyle destination, has announced the completion of an “oversubscribed” 15 million dollar Series A round of financing, which it states will assist them in scaling its e-commerce and mobile technology platform.
The funding round was led by previous seed investor, New Enterprise Associates, one of the world's largest venture capital firms with investments in luxury fashion platform, Moda Operandi, and they were joined by Pritzker Group Venture Capital and John Fisher of Draper Fisher Jurvetson, who are new investors.
Additional investors returning to participate in the round include Thrive Capital, an early investor in Warby Parker and Glossier.
Maisonette was launched in March 2017 by Vogue magazine veterans, Sylvana Ward Durrett and Luisana Mendoza-Roccia, and curates the best children's products across all categories from apparel and accessories to toys, furniture, home décor and gear, with the aim of becoming the ultimate shopping destination for what it calls the “highly fragmented” 300 billion dollar plus market.
The marketplace aggregates over 500 children's brands and boutiques from around the world for children ages 0-12 via a global network including, Bobo Choses, Native, Minnow Swim, Petit Pehr, Caramel, PlanToys and Oeuf.
Luisana Mendoza-Roccia, chief operating officer and co-founder of Maisonette, said in a press release: "Today 90 percent of new parents are millennials who are shopping for their children in a completely different way and who value selection, quality and design when selecting products for their families. Our goal is to be the definitive shopping and editorial destination for children's fashion and lifestyle in the digital age across all categories and price points.”
Tony Florence, general partner and head of technology investing at New Enterprise Associates, added: "Maisonette has quickly become the authority and leading brand in this high-growth, under-penetrated category. In just a year, they have established a devoted following of both customers and brands alike. I have no doubt that Maisonette is on its way to become the future of children's online retail, and we are excited to be a part of it.”
Commenting on how the investment would be used, Durret, co-founder of Maisonette, added: "Our focus for year one was to create a strong brand and build supply. Now we are excited to partner with these world-class technology investors to continue to scale our e-commerce and mobile technology platform and build a powerful editorial platform to serve our audience as the ultimate resource for both content and commerce for children.”