Summersalt, a swimming suits for ladies brand based in St. Louis, Missouri, received $6.1 million in Series A funding. The founder fund leads with the participation of other investors, including Lewis and Clark Venture Capital, the rise of other revolutionary seed funds, Dundee Venture Capital, Breakout Capital, Planting Capital, Victress Capital, Amplifyher Ventures, M25 and Juliana And Bill Lansic.
Summersalt, a direct-to-consumer swimwear brand based in St. Louis, today announced that it has raised a $6.1 million Series A led by the Founder Fund and plans to launch a new category for modern travelers. Other participants in this round include Lewis and Clark Ventures, Revolution’s Rest of the Rest Seed Fund, Dundee Venture Capital, Breakout Capital, Cultiv Capital, Victress Capital, Amplifyher Ventures, M25 and Giuliana, and Bill Rancic. This round of financing has enabled Summersalt’s total funding to reach $8.7 million.
Summersalt was launched in May 2017 and quickly became the fastest growing and most disruptive brand in the swimwear industry. From the first day, Summersalt has shaken the over-saturated, wholesale-led swimwear market by offering innovative, high-end, eco-friendly swimwear, without the designer’s price tag. A key point of differentiation is the brand’s data support for the system, which uses more than 10,000 real female body scans, measurements over 1.5M, and early patents to recommend clothing based on body type and consumer preferences.
As part of Summersalt’s continued growth trajectory, the brand will use their new funds to develop teams, expand their scale, and develop new categories besides swimwear, including travel apparel and packaging essentials. One of the key learnings that data-driven brands see is that most of the sales come from customers who buy swimwear for upcoming trips. Tourism is the fastest growing market in the world with a market share of more than $1.6 trillion in 2017.
“We are delighted to use our extensive modular design library and fast supply chain to bring our consumers modern clothing to travel with. Summersalt is creating digital products, content and apparel designed to inspire our customers to take risks And promote the connection between people.” – Lori Coulter, co-founder, CEO and president.
As women travel more than ever before, Summersalt makes the most of her experience by providing other items to make the most of the market. Summersalt’s swimwear is already on her packing list, and the brand is happy to continue filling her suitcase.
“We are very proud of the brand we have created for women who want to be sexy according to their own conditions. We have rejected the over-engineering and exhaustive approach to swimwear design and branding – our customers have responded. “Reshma Chattaram Chamberlin, co-founder, chief brand and digital officer.
“Traditional retailers and brands have forced consumers to choose between quality and value, and today’s consumers have failed. We are excited to support Lori and Reshma to continue to build brands and sounds that are consistent with modern shoppers,” Founder Fund Stacy Chang said.
In addition to the new category, Summersalt plans to launch a content platform in early 2019 to connect like-minded women and travelers around the world.
Summersalt has appeared on Forbes, Fast, Today’s Show, VOGUE, ELLE and Refinery29, and is often recognized for its commitment to inclusion and diversity.
Summersalt was launched in May 2017 as a direct-to-consumer swimwear brand that introduces designer-quality eco-friendly suits for $95. Summersalt gained extraordinary appeal and quickly became a well-known brand, encouraging women to sneak into the adventures and experiences of life in their own way, but swimwear is just the beginning. At the end of 2018, Summersalt will expand to every corner of the mobile women’s luggage, offering comfortable designer-quality essentials designed to bring modern travellers from the plane to the pillow, regardless of the adventure-leading style and comfort.