Kidbox secures $15.3 million in Series B funding
Personalized kids subscription service Kidbox has secured $15.3 million in Series B funding that will be used to expand the data science team and drive customer acquisition. The company's total funding raised to date is $28 million.
Canvas Ventures, who is an investor in wedding site Zola as well as Ariana Huffington's Thrive Global, led the Series B round of funding. New investment partners include Fred Langhammer, the former CEO of The Estée Lauder Companies Inc., and The Gindi Family, owners of Century 21 department stores.
"Brands understand the importance of our distribution model that delivers their products and experiences over the threshold of the biggest retail storefronts today, people's homes," said Kidbox CEO Miki Racine Berardelli in a release.
"The company's rapid growth reflects the fact that they have struck a chord with parents, grandparents, and children alike," said Paul Hsiao, Canvas Ventures General Partner, who will be joining the Kidbox Board of Directors.
Kidbox was founded in 2016 and consists of a community of 1.2 million families. It grew its customer base 3.1 times in Q1 of 2018 over the same period last year, tapping into the kids apparel and accessories market in the US which is currently a $60 billion industry.
Kidbox carries 100 brands for kids including Adidas, Puma, 7 for all Mankind, Diesel, DKNY, Splendid, and Jessica Simpson. Last spring the company introduced a seasonal baby box in addition to its namesake product for kids.
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