What is Summersalt?
Summersalt has established itself as a generation-defining apparel brand, offering wardrobe essentials for women. Launched in 2017 with a focus on designer-quality swimwear made from recycled materials at accessible price points, the company has since expanded its offerings to include loungewear, knitwear, sleepwear, intimates, and activewear. Summersalt is recognized for its modern, sophisticated, and fun designs, coupled with an impeccable, data-backed fit. The brand has cultivated a loyal customer base, attracting endorsements from celebrities and praise from prominent fashion publications such as Vogue, Harper's Bazaar, ELLE, and InStyle. Its innovative approach was further recognized with inclusion in CNBC's Upstart 100 list in 2019 and Fast Company's Most Innovative Companies in 2020.
How much funding has Summersalt raised?
Summersalt has raised a total of $23.4M across 2 funding rounds:
Series A
$6.1M
Series B
$17.3M
Series A (2018): $6.1M, investors not publicly disclosed
Series B (2019): $17.3M led by Founders Fund, Mercato Partners, Lewis and Clark Ventures, Dundee Venture Capital, Revolution's Rise of the Rest Seed Fund, and Victress Capital
Key Investors in Summersalt
Founders Fund
Founders Fund is a venture capital firm that invests in companies across all sectors and stages, with partners having a history of backing influential tech companies like SpaceX and Palantir. They offer substantial support to founders with minimal interference.
Mercato Partners
Mercato Partners Acquisition Corporation is a special purpose acquisition company that focuses on business combinations, particularly within the technology or branded consumer products sectors. It aims to identify and operate businesses for growth.
Lewis and Clark Ventures
Lewis & Clark Ventures is an early-stage venture capital firm that partners with founders to build B2B software companies, investing from late seed through Series A. They provide capital and guidance to help companies achieve significant growth.
What's next for Summersalt?
The recent major strategic investment signals a pivotal phase for Summersalt, likely enabling further expansion of its product lines, enhancement of its direct-to-consumer platform, and potentially exploring new market segments. The company's consistent growth, evidenced by its funding history, suggests a strategic focus on scaling operations and solidifying its brand presence. Future initiatives may involve leveraging data analytics for product development and customer engagement, as well as optimizing its supply chain for greater efficiency and sustainability. This capital infusion is expected to fuel continued innovation and market penetration in the apparel sector.
See full Summersalt company page
