- St. Louis based direct-to-consumer travel wear company Summersalt announced it raised $17.3 million in Series B funding led by Mercato Partners
St. Louis based direct-to-consumer travel wear company Summersalt announced it has raised $17.3 million in a Series B round of funding led by Mercato Partners. Founders Fund, Lewis and Clark Ventures, Revolution’s Rise of the Rest Seed Fund, Dundee Venture Capital, and Victress Capital also joined the funding round.
With this round of funding, Summersalt plans to expand into additional apparel categories following the brand’s success in the swimwear category and recent travel wear launch. Including this funding round, Summersalt has raised a total of $26 million.
Launched in May 2017, Summersalt has quickly become one of the fastest-growing and most disruptive brands in the swimwear industry. And since the beginning, Summersalt has disrupted the oversaturated wholesale dominated swimwear market by offering high-quality, size-inclusive, and eco-friendly swimwear without a high price tag.
“We could not be more thrilled with the opportunity to lead Summersalt’s latest funding found, and partner with two passionate founders who have a clear vision, are mission-driven and have a track record for accelerated performance. The product, brand, team, and the incredible consumers make for a winning combination,” commented Joe Kaiser, Director of Mercato Partners.
Recently, the Summersalt debuted its highly-anticipated apparel collection — which focused on travel essentials like cashmere sets, packable jackets, and wrinkle-free pants. And this expansion marks a pivotal moment for the brand and comes at a strategic time in their growth trajectory. With millions of customers coming to its site to purchase a swimsuit for a vacation, Summersalt capitalized on the opportunity with their expansion into travel-friendly apparel and accessories.
“We are building a generation-defining travel brand that goes beyond swimwear and apparel to create a community of curious women who love to explore. Our unparalleled experience in apparel, deep supply chain expertise, and fit-technology will be at the foundation as we continue to scale and build a brand with highly profitable unit economics,” said Summersalt co-founder, CEO, and president Lori Coulter.
Summersalt is also planning to further establish themselves in the lifestyle and apparel category with the addition of quality and travel-friendly products at affordable prices. Along with expanding into more products, Summersalt will focus on building out its travel content platform called The Forecast in order to continue to build and inspire female travelers.
“From the moment we launched Summersalt our goal was to own every corner of our customer’s suitcase and with this latest round of funding, we are one step closer to this. We are thrilled to continue to establish ourselves as the destination for women who are traveling and continue to go above and beyond to deliver great products to our consumer,” added Summersalt co-founder, chief brand, and digital officer Reshma Chattaram Chamberlin.