Just because it doesn’t rain much in LA doesn’t mean you shouldn’t protect your outdoor furniture from the elements.
Direct-to-consumer outdoor furniture brand Outer launched in 2019 in order to create premium products that were built to last. In just a short amount of time, the company was able to grow its brand and generate a solid customer base. Now it’s ready to take off thanks to new capital from a round of investors.
On Tuesday, Outer announced the closing of its $10.5 million Series A funding round. Sequoia Capital China led the round, with participation from several new and existing stakeholders. Some of these investors include Harry’s co-founders Andy Katz-Mayfield and Jeff Raider, Twitch co-founder Justin Kan, as well as Alex Pall and Drew Taggart of The Chainsmokers.
This funding comes after a huge year for Outer. In 2020, the company saw sales increase 1,000 percent year-over-year. Outer hopes to continue this growth in 2021, and expects to pass $12 million in sales this year.
The Series A round will also help Outer move into new product verticals beyond outdoor sofas and rugs, and grow its footprint to over 1,000 furniture showroom locations.
“Our mission has always been to create beautiful, durable, and innovative outdoor furniture focused on quality and sustainability,” Outer CEO and co-founder Jiake Liu said in a statement. “Now with backing from some of the world’s most visionary investors, we are even more eager and confident in our mission to bring more life outside.”
Sustainability is a pillar of the Outer brand, and that’s evident in the materials the company uses. Outer’s 1188 Rug Collection is made from 100 percent recycled water bottles. Additionally, Outer’s production is vertically integrated and it makes sure its factories adhere to environment-friendly processes. Outer has also partnered with One Percent for the Planet to give back to environmental nonprofits.
Outer says it will use the new funding to invest in product R&D and grow its team. The company is actively hiring for a handful of roles across marketing, operations and sales.
