Raised $50 million! Outdoor home furnishing brand Outer continues to grow

Recently, the outdoor home furnishing brand Outer completed its Series B financing with a financing amount of US$50 million, and its valuation increased nearly 10 times compared with the previous round.

Outer is a DTC brand for outdoor furniture , co-founded by Chinese entrepreneurs Liu Jiake and Terry Lin in Los Angeles, USA . Liu Jiake once said that the original intention of establishing the company was to directly serve consumers. As its brand introduction says, many people are busy between home and office every day, ignoring the good time they can spend outside, and the brand was founded to provide consumers with a better sense of outdoor life.

In June 2020, the company completed an angel round of financing of US$4.3 million, with investors including K2VC and Meihua Venture Capital. The growth in the first half of that year reached an astonishing 21 times, and the increase in consumer spending during the epidemic played an important role. In January this year, it completed a round A financing of US$10.5 million. In addition to Meihua Venture Capital, investors also included Sequoia China, SHEIN, and Mucker Capital; investors in this financing included Capital Today, Tribe Capital, C Capital, Upfront Ventures, Sequoia China, Mucker Capital, MANTIS Venture Capital, Reimagined Ventures and individual investors.

The company saw the importance of sustainable concepts to the future development of the company early on. It pays great attention to the use of environmentally friendly materials in product materials. According to Outer's official website, each Sofa chair is made of about 100 marine plastic bottles. The outdoor sofa is made of 30% recycled materials and is 100% recyclable. In addition, the company's factory is owned by the family of its CEO, so it pays more attention to product manufacturing, quality control and other aspects.

In terms of domestic home furnishing brands going overseas, there are many brand sellers in Guangdong, Shanghai and other places, and the market competition is fierce. In order to win more consumers, sellers need to pay more attention to the consumption habits and market dynamics of local consumers. The demand for home furnishing products is not only in Europe and the United States, but also in Latin America, Southeast Asia and other places. This also provides market support for sellers to deploy multiple platforms and multiple markets. At present, Europe and the United States are still the main markets.

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