New York-based online kids’ clothing retailer Rockets of Awesome announced today they have raised a $12.5 million Series A. The round was led by August Capital, with participation from the company’s existing investors Forerunner Ventures and General Catalyst.
The round brings the company’s total funding raised to $19.5 million.
“We’re thrilled to be working with August Capital as we take Rockets of Awesome to the next stage. This financing will enable us to grow the team and invest in our technology, data science and operational excellence – developing the business through one-of-a-kind brand experiences,” said Founder and CEO Rachel Blumenthal in a statement. “We’ve had such an amazing response from our customers, and we’re very lucky to have partnered with investors who are dedicated to helping us scale the business thoughtfully.”
Rockets of Awesome allows parents to shop for clothing for their children online, saving them the pain and hassle of dragging children through the clothing store and dressing room routine. Of course, finding clothing your kid will actually wear, especially without trying it on first, can be tough.
The company employs algorithms to analyze kids' style preferences. They then design and hand-pick clothes that meet those exacting standards and ship them to your door four times a year. If there’s something the kids don’t like, simply ship it back. The company’s algorithms will learn from the experience and better tailor their offering for the next shipment. All the clothes are designed to be easily mixed and matched and cost under $40.
Rockets of Awesome launched in July of 2016, but the company said they have already exceeded their pre-launch growth projections. So far they’ve shipped over 100,000 units and expect their 2017 revenue to grow tenfold.
The new funding will be used to attract new talent, develop and introduce new products and continue to grow the company’s customer base.
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