Floral tech startup Something Borrowed Blooms raises $1.5m Series A funding to accelerate growth
Something Borrowed Blooms, the pioneer of the silk wedding flower revolution, announced a $1.5 million Series A funding round led by Callais Capital. This investment brings the total raise by the company to just over $2 million since 2015. Funding will support the company's growth trajectory, with increasing demands from the wedding industry post-COVID.
Last year, the tech startup achieved a 35% growth rate in an industry that experienced significant contraction. And on the backside of COVID-19, the company anticipates growth exceeding their 150% average annual growth rate with pent-up demand in the wedding space and increasing demand from Gen Z for weddings without waste. Securing funding in preparation for the industry's comeback was essential for the company.
Lauren Bercier, Co-founder and CEO, Something Borrowed Blooms: "We founded Something Borrowed Blooms on the foundation of cost savings, but immediately saw a need to modernize the industry by offering a stress-free and transparent e-commerce solution for wedding flowers. In doing so, we've created a business model that's truly unique and provides value to today's consumers looking for more sustainable and eco-friendly options for their wedding day. Partnering with Callais Capital will enable Something Borrowed Blooms to reach a larger audience and further innovate our services."
Hal Callais, Managing Partner and CIO, Callais Capital: "Lauren and Laken have carved out a unique niche within the wedding market, laying groundwork for continued expansive growth. They pair on-trend aesthetically appealing products with a convenient user experience, to compliment a couple's vision without compromising or exceeding their budget."
This latest round of financing will support a 10,000 square foot warehouse expansion to the company's headquarters in Lafayette, LA, in addition to expanding product offerings and tech solutions to meet the needs of their growing customer base.
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