The era of the DTCs is officially upon us, with digitally native startups paving the way for retail’s expansion in 2020.
St. Louis-based travel and swimwear brand Summersalt is the latest to pique the interest of capital-wielding investors. The company announced on Friday that it had raised $17.3 million in a Series B funding round led by Mercato Partners.
The round’s other participants included Founders Fund, Lewis and Clark Ventures, Revolution’s Rise of the Rest Seed Fund, Dundee Venture Capital, and Victress Capital, bringing Summersalt’s grand total in funding to $26 million.
With this windfall, the two-year-old company plans to launch additional apparel categories building upon its success in the swimwear category, having made its mark with size-inclusive, eco-friendly options in the $95 price range.
Summersalt uses Italian fabrics and premium recycled materials in its suits, and employs a patented, data-driven system based on 1.5 million body measurements from 100,000 real women to help shoppers find the perfect fit.
The brand’s line of travel wear staples, launched in late 2018, includes easy-wearing garments built to be packable, like cashmere sets, lightweight jackets and wrinkle-free pants.
“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,” Lori Coulter, Summersalt’s co-founder, CEO and president, said. “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.”
In addition to further planting its stake in the travel lifestyle category with the addition of more new styles, Summersalt also plans to build out a travel content platform, dubbed The Forecast, which will act as a community hub for female travelers looking for inspiration.
Summersalt’s objective has always been to “own every corner of our customer’s suitcase,” Reshma Chattaram Chamberlin, the brand’s co-founder and chief brand and digital officer, added. With the latest round of funding, she said, the brand is one step closer to establishing itself as a destination for women who travel.