- Female-founded San Francisco-based consumer luxury brand SENREVE announced it raised $16.75 million in Series A funding
SENREVE — a female-founded San Francisco-based consumer luxury brand — announced it raised $16.75 million in Series A funding. Including this funding round, SENREVE has raised more than $23 million in funding in just three years.
This round of funding was led by Norwest Venture Partners. And this latest round of funding will help co-founders Coral Chung and Wendy Wen will help lead SENREVE to reach a global scale and iconic status.
Chung and Wen have combined backgrounds in finance, consulting, retail, and technology as well as a consumer-centric perspective and ability for trusting their instincts to disrupt a traditional industry — which is the primary reason for much of SENREVE’s success. They utilize a combination of consumer data, smart manufacturing, and inventory planning to side-step many of the downfalls of traditional luxury brands by creating a new platform that turns the traditional luxury model on its head.
“We focus on authentic brand storytelling, creating beautiful and luxurious products, and engaging with customer feedback and data,” said Chung.
More than 10,000 SENREVE’s products have been waitlisted or preordered. And SENREVE’s marquee bag — which is called the Maestra — blends sophisticated design with luxurious Italian craftsmanship and versatility. It has been carried around by Hollywood’s A-List, including Lady Gaga, Priyanka Chopra, Anna Kendrick, and Brie Larson.
As SENREVE was seeking funding, they sought out strategic investors that would help bring the brand’s long-term vision to life.
Norwest is known for investing in e-commerce companies like Jet.com, Kendra Scott, and Casper. Plus the firm also invested in female founders with companies like Minted and Madison Reed.
“We’re thrilled to bring on an institutional partner like Norwest, and especially excited to partner with Sonya Brown who has a phenomenal track record of backing successful consumer brands,” added Wen. “We look forward to partnering with Norwest to scale our business into an iconic global luxury brand which has always been my dream from the beginning.”
Now SENREVE remains primarily vertically integrated, owning every touchpoint of the process (from Italian sourcing, design, and manufacturing to packaging and distribution through their omnichannel platform). And the company is laser-focused on creating timeless high-quality products for the modern woman.
“In a world where direct-to-consumer channels have become increasingly crowded, Senreve has been extremely savvy about how they introduce themselves digitally,” explained Sonya Brown, General Partner at Norwest. “Coral and Wendy’s ability to build a luxury brand practically overnight is a testament to their authentic understanding of the modern woman. In particular, Senreve resonates with the next generation of powerful women because they don’t want to compromise functionality to achieve luxury, and they shouldn’t have to. I am thrilled to partner with them for this next, exciting chapter.”
With this round of funding, SENREVE will expand its product offering, grow its geographic presence, form long and strategic partnerships, and explore new brick & mortar retail opportunities.
