Outer Raises $50M Series B to Expand Its D2C Furniture Brand
Outdoor furniture can be such a hassle. Shopping for it, assembling it, cleaning it and finding the perfect space for it on your patio takes up a needless amount of time and effort. Santa Monica-based company Outer is on a mission to make that process a bit easier with its direct-to-consumer furniture brand. To add, most of its products are sustainably sourced, so you can feel just a little bit better about yourself for helping to save the planet.
The company announced Thursday that it raised $50 million in fresh financing to continue to ease outdoor furniture shopping headaches. The Series B was led by Kathy Xu of Capital Today and marks the second time Outer has raised funds this year. In January, the company closed on a $10.5 million Series A.
The latest raise stands as a vote of confidence from investors who’ve taken note of the company’s rapid growth rate. Outer has experienced a more than 1,000 percent increase in sales over the course of the pandemic, according to the company.
“Consumers are now acutely aware of the importance of outdoor living and Outer’s rocketship growth is a testament to the thoughtful design behind every product,” Xu said in a statement.
Outer provides its customers with a range of eco-conscious outdoor furniture available for purchase through its online marketplace. The D2C brand offers outdoor couches, sofas and chairs in three different styles — teak wood, aluminum and wicker. The latter two are completely recyclable at the end of their furniture lifespans, according to the company.
Outer’s furniture arrives fully assembled and its modular design makes reorganizing easy for patios and porches of all sizes. In addition to furniture, Outer offers a range of blankets, throw pillows and rugs.
Unlike traditional furniture brands, Outer doesn’t have any physical storefronts. Instead, the company relies on its network of customers to show off their furniture to others that might be interested.
Outer accomplishes this through its Neighborhood Showroom program which enables shoppers to visit the homes of nearby Outer customers in order to view products firsthand. Since the program’s start in 2019, it has grown from 50 locations in 13 states to more than 1,000 locations in 49 states.
“Our work in sustainable materials isn’t stopping at recycled plastics,” Jiake Liu, CEO of Outer, said in a statement. “We are working on new, eco-friendly fabrics, plastics, and concrete to replace the industry standards that currently pollute our environment.”
Following the latest raise, Outer has its eyes set on expanding internationally. The company plans to do so before the end of the year. Outer’s market reach isn’t the only thing expanding, the company also plans to hire for its team across a wide variety of roles.
For now, the D2C brand is on the hunt for six fresh faces to join its engineering, marketing and finance teams, to name a few.
Outer has raised $65 million in venture capital financing to date, according to the company.