- Leading direct-to-consumer arts and crafts supplies company Arteza announced it raised $24 million in Series A funding
Arteza — a leading direct-to-consumer arts and crafts supplies company — announced it raised $24 million in Series A funding from Volition Capital. Volition Capital managing partner Larry Cheng and principal Dave Gordon have joined the board of directors at Arteza.
Arteza the company also announced that it saw 10x revenue growth in 2 years. The revenue growth was driven by rapid expansion of its customer base to over 2 million globally with similarly aggressive growth in its product portfolio with over 500 new products launched in 2019.
Launched in 2015, Arteza is disrupting the legacy arts and crafts supplies industry — which is ripe for product design and retail innovation. Arteza’s group of over 750 products are available direct to students, hobbyists, and professional artists.
“The arts and crafts supply industry was stale for decades, and our vision was to breathe new life into the market with a fresh approach to products, commerce, and the customer journey,” said Arteza co-founder Mike Koshatko, co-founder at Arteza. “As a bootstrapped company with a proven business model and eye on further growth, we found a natural partner in Volition Capital. This investment and access to Volition’s expertise and guidance will keep us well-positioned as the leading D2C art supplies brand.”
Another factor that is driving Arteza’s success as a digitally-native brand is the company’s commitment to elevating the experience for customers and artists everywhere. For example, the company’s ‘Creator’s Central’ blog provides free video tutorials and inspiration for artists and it has built up a highly engaged community of almost 350,00 Instagram followers.
“Arteza has reinvented the art supplies industry by focusing on premium design, rapid innovation, affordability, and customer experience. They have built a tremendous competitive advantage over legacy art products and retail brands through their disruptive approach,” added Larry Cheng, Managing Partner at Volition Capital. “It is truly rare to see a company experiencing rocket-ship growth, while also being profitable and bootstrapped, and we are excited about the opportunity to work with them to realize their aspirations.”