Children’s goods marketplace Maisonette has raised $30 million in Series B funding and added Pierre Poignant, Co-founder of Lazada and Special Assistant to the CEO and Chairman of Alibaba, as an independent member of its Board.
The latest round of funding for Maisonette was led by G Squared, with previous investors NEA and Thrive Capital also participating. Maisonette previously raised $15 million in its Series A round in 2018, bringing the total raised to more than $50 million.
The new capital will be invested in next-generation technology and a data platform designed to enhance personalization for both customers and sellers, as well as to fund international expansion and scale the team.
“As consumers went online for more and more of their shopping needs over the last year, we saw demand for Amazon alternatives grow,” said Larry Aschebrook, Managing Partner, G Squared in a statement. “Maisonette was positioned well and responded quickly to the shift by offering merchandise that consumers sought, 40% of which is exclusive to Maisonette or is hard to find elsewhere. Maisonette delivered a timely and robust platform that many retailers needed to reach a large, collective audience of shoppers online.”
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Maisonette currently features more than 900 brands across apparel and accessories, home furniture and décor, toys, gear and wellness, with 1,400+ new products added each month. The company also launched its own everyday basics private label, Maison Me, targeted at the U.S. children’s apparel market.
To support the company’s rapid growth, the founders have hired a senior executive team with talent from a range of digital and consumer brands, including Walmart/Jet.com, Casper, Rent the Runway, Birchbox and Pager. Former Yahoo! President and CEO and Founder of Sunshine Contacts Marissa Mayer also serves as an independent Board member.
“Our mission is to help modern families navigate the adventure of raising the next generation both through the products they buy and the content they consume,” said Sylvana Ward Durrett, Co-founder and CEO of Maisonette in a statement. “Millennial parents are the fastest-growing group starting families, having children later in life, with more disposable income. More attention- and time-strapped than ever, they prioritize quality and trusted advice for what they value most in life, their children.”
