US-based Outer is a fast-growing direct-to-consumer home brand that creates smart, durable, and eco-conscious outdoor furniture designed to help people live better outside. Now, the hometech brand has announced to have closed $50 million in a Series B funding round, which comes after its Series A funding round of $10.5 million in January 2021 and it brings the total funding to $65 million.
Global expansion plans in 2021
The investment round was led by Kathy Xu of Capital Today along with Tribe Capital, C Ventures, TRAC VC, and Upfront Ventures. Also, existing investors, including Sequoia Capital China, Mucker Capital, Mantis VC, Unpopular Ventures, and Reimagined Ventures participated in the round.
The latest funds will be used to cement Outer’s position as the leading brand for outdoor living as they focus on developing new sustainable materials, develop an eco-friendly supply chain, and extend product offering and community. The startup also aims to expand internationally before the end of 2021. Further, the company is hiring rapidly.
Increased sales amidst pandemic
As Americans spend over 90 percent of their time indoors on average, Outer is on a mission to help people live better outside. It is best known for producing the world’s most comfortable outdoor sofa and patented OuterShell.
It has developed two new outdoor furniture collections and multiple accessories. Outer has quickly become a favorite of tastemakers, including Martha Stewart, Beverly Mitchell, Patrick Schwarzenegger, and Alex Pall and Drew Taggart of The Chainsmokers. Its recent launches include the Aluminum Collection, Teak Collection and Bug Shield Blankets.
Founded by Jiake Liu and Terry Lin, the company witnessed over 1000 percent increase in sales amid the pandemic.