Advertisement

Resident Raises $12.5 Million, Seeks Expansion Into New Product Categories

Share on linkedin
Share on twitter
Share on facebook
Share on reddit
Share on email

Resident, the parent company of brands including Nectar and DreamCloud, has raised $12.5 million through a funding agreement with Liquidity Capital. Resident plans to use the investment to accelerate its growth into additional home product categories.

The e-Commerce retailer gets 80% of its traffic and 50% of its sales from mobile devices, putting Resident at the forefront of mobile retailing. The retailer made its name selling memory foam mattresses, but has continued to grow its direct-to-consumer sales into categories including rugs, couches, chairs and bean bags.

“We are thrilled to be investing in Resident,” said Ron Daniel, Co-Founder and CEO of Liquidity Capital in a statement. “This investment strengthens our investment portfolio greatly. We are happy to be doubling down on e-Commerce, pairing Resident with our investment in Le Tote, a leader in e-Commerce fashion retail. We’re excited to watch the continued hyper-growth of Resident and give them any support needed along the way.”

Advertisement

Advertisement

Advertisement

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: