CustomInk Raises $40 Million In Funding
CustomInk is an online clothing company that has raised $40 million in funding from Revolution Growth, the investment fund created by Steve Case, Ted Leonsis, and Donn Davis. Leonsis will be joining CustomInk’s board of directors.
Founded 14 years ago, CustomInk survived the dot-com bust. The reason why CustomInk survived is because their custom shirts ordered were for groups, teams, and causes that they were affiliated with. CustomInk is now hitting almost $200 million in annual revenues and they are seeing year-over-year growth of 50%. The company delivers over 20 million custom t-shirts per year to hit these numbers.
CustomInk was reluctant to receive funding because the business was already successful and scalable. It took around 9 months for Revolution Growth to convince the company to change their mind.
CustomInk will be ramping up their production and expanding their core business. The company currently has 800 employees in 3 facilities across the U.S. They will be adding a fourth office in Dallas, Texas.