St. Louis-based clothing brand Summersalt just raised $17.3 million in Series B funding and its founder and CEO said the company's goal is to "provide joy in all of our products."
The company, which launched in 2017 with a line of direct-to-consumer swimwear, uses recycled materials in its popular $95 swimsuits.
"We would never say never [about partnering with a company like Walmart or Amazon] but really the roadmap moving forward is to speak directly to our consumers, cut out the middle-man, and offer a better product for a better price," CEO Lori Coulter told Cheddar. Coulter, a former design professor and swimwear designer, founded Summersalt with marketing and brand consultant Reshma Chattaram Chamberlin.
Summersalt's second round of funding was led by Utah-based venture capital firm Mercato Partners. It last raised $8 million in April in a Series A round and is backed by firms including Founders Fund and Lewis and Clark Ventures.
"We're super excited about the funding," Coulter said. "The main thing we're doing is to continue to deliver on our promise to provide joy in all of our products, to infuse joy in all of our products that we're expanding to."
Since its launch with swimwear, Summersalt has expanded to travel-wear and sleepwear. Chattaram Chamberlin said in a press release "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."
Meridith McGraw, White House Reporter at The Wall Street Journal, breaks down Trump’s $200M ballroom plan, D.C. police tensions, and the future of MAGA.
After years of being told that red wine was good for heart health, more Americans appear to be heeding warnings that even moderate alcohol consumption can be unhealthy.
Amazon is now rolling out a service where its Prime members can order their blueberries and milk at the same time as their batteries and other basic items.
Dr. Richard Besser, President & CEO of the Robert Wood Johnson Foundation and former CDC acting director, unpacks the impact of RFK's mRNA funding cuts.
Jessica Inskip, Director of Investor Research at StockBrokers.com and host of MarketMakeHer, unpacks earnings, market outlook, and what history says is next.
