Society Brands (see Pulse 2.0 profile here) – a tech-enabled consumer products company built for and by founders – recently announced it has raised an additional $25 million of equity, most recently having secured $11 million in a funding round led by Gullane Capital, LLC, an investment firm focused on managing and advising pooled investment vehicles consisting of qualified individuals.
Since the company’s initial raise of $205 million, Society Brands has raised an additional $25 million in equity funding, bringing the total capital commitment since inception to $230 million. And the lead investors include Callais Capital, an institutional VC firm in Louisiana, and North Coast Ventures (a Cleveland-based capital partner who invests primarily in early and growth-stage companies). The recent funding raise will enable Society Brands to continue acquiring e-commerce native brands in a targeted and strategic manner, further build their operating team and infrastructure, and provide even more financial strength to the company’s balance sheet.
Society Brands has a differentiated business model and a deal structure that creates alignment with founders while truly enabling them to take their brand to new heights by sharing best practices and resources.
Society Brands acquires brands that sell on Amazon and companies with a solid and loyal direct-to-consumer audience on platforms like Shopify. And they encourage founders to stay on board to be part of the team and offer rolled equity as part of the deal consideration to create alignment. Plus, they desire to build a community and ecosystem of like-minded entrepreneurs who have the skill and energy to grow with their brand. Not only will founders elevate to the next level professionally, but they also develop relationships that will last a lifetime.
In recent months, Society Brands fostered genuine organic growth by cultivating powerful relationships between brands. And this not only strengthens the shared mission but also enhances the combined value, saving millions annually.
The company’s commitment is not just about efficient operations. It is not about nurturing each brand under one umbrella, enabling them to thrive and flourish. And Society Brands owns and operates seven distinct brands, including Capsule Supplies, Barnesmith, Power Theory, and Wolf Tactical, to name a few. The additional brands are currently in the acquisition pipeline and will be announced soon.
KEY QUOTES:
“Despite recent headwinds in the e-commerce space, Society Brands is stronger than ever. We’ve had strong execution from both an organic and inorganic growth perspective and this equity raise is a testament to that. This recent $11 million raise, which now totals $25 million since our last capital raise announcement, demonstrates the confidence that our investors have in our business plan and our future success. Moving forward, Society Brands is positioned to become a premier tech-enabled consumer products company as we continue to acquire great brands and partner with incredible founders.”
— Michael Sirpilla, Co-founder and Chief Executive Officer, Society Brands
“We believe Society Brands’ business model to develop lasting and meaningful relationships with the sellers to grow their business and, as a result, Society Brands’ overall portfolio is a formula for success. We are equally impressed with the high integrity founder-run culture amongst Society’s leadership that aligns with our investment partner’s values. Given that, we are optimistic that Society will be among the strongest players in the marketplace.”
— Trip Miller, founder of Gullane Capital
“Society Brands’ strong financial position will allow it to further capitalize on additional acquisitions that can be integrated with the company’s exceptional management team and proven processes for growing businesses that we believe will yield solid results for all stakeholders.”
— Court Coursey, Managing Partner of TomorrowVentures, and Society Brands advisor and early-stage investor
