Revolution Growth Leads $20 Million Investment In Lolly Wolly Doodle
Lolly Wolly Doodle is an online small children’s apparel company makes clothes locally and utilizes Facebook for promotion. Lolly Wolly Doodle uses a just-in-time manufacturing model. The company has raised $20 million in funding led by Revolution Growth (the venture fund started by AOL co-founder Steve Case). Existing investors FirstMark Capital and Highline Venture Partners participated in this deal with new investor Novel TMT Ventures.
The company plans on using the funding to invest in their technology back-end. They are going to hire around 100 people across their offices in North Carolina and New York.
Lolly Wolly Doodle puts clothing designs online and takes orders from customers from there. Manufacturing starts once the order is placed. Lolly Wolly Doodle is generating well over $10 million in revenue run-rate because that is around the minimum that Revolution Growth puts money into.
Lolly Wolly Doodle was founded by CEO Brandi Temple. She enjoyed sewing for her children and her niece. Her niece’s nickname became the name of the company. Today Lolly Wolly Doodle has around 170 employees. Around 160 of them work at a manufacturing facility in Lexington, N.C.
“Lolly Wolly Doodle is a perfect example of our core belief at Revolution that great entrepreneurs and innovative companies can be found all across the country, not just in Silicon Valley,” stated Revolution Growth co-founder Steve Case. “Lolly Wolly Doodle proves affordable manufacturing can thrive in America – and Brandi is a true ‘Made in America’ entrepreneurial success story.”
Lolly Wolly Doodle engages with around 10-10% of their Facebook fans. Many of them are mothers that in the Southeastern United States. Many of their competitors are seeing around a 1-2% engagement rate with Facebook brands. Lolly Wolly Doodle has over 582,000 fans on their Facebook page.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry