Cambridge, MA, June 11 , 2013 – CustomMade, the online marketplace for one of a kind goods, announced today that it has secured $18 million in additional funding.
The round was led by Atlas Venture and returning investor, Google Ventures, with participation from Schooner Capital, Next View Ventures, First Round Capital and Launch Capital.
As part of the financing, Fred Destin, a partner at Atlas Venture, and Rich Miner, a partner at Google Ventures, will join the board.
The new funding will be used to expand on CustomMade’s already dominant position in the growing market for custom made goods. Against the rapidly changing e commerce backdrop, consumers are increasingly looking for ways to find what they want, when they want it, with visibility into how it was sourced and created.
CustomMade makes it possible for anyone to enjoy high quality custom goods in a way that delivers good value, celebrates individuality, reduces waste and increases the business of their growing network of 12,000 professional makers.
“When we launched CustomMade, we wanted to tap a vein of demand for products that have a deeper meaning for both the buyers and the makers of those products,”says CustomMade CEO Mike Salguero. “As we see the marketplace for our buyers and makers’ projects st eadily grow, we have redoubled our commitment to that vision.”
In anticipation of this funding, Jim Haughwout, formerly at AOL and creator of many Web 2.0 commerce networks for top brands, took on the tech leadership role for CustomMade in early 2013.
“Since everything you see on CustomMade is completely bespoke, we’re essentially helping consumers buy something that doesn't exist yet from someone they’ve never met,” notes Haughwout. “To make this possible, we are building new capabilities to help customer s describe their needs and find the right maker for their project, while enabling those makers to run their businesses more efficiently and focus on what they love to do.”
This latest round of financing brings the total raised by the company to $24 million since 2011. The funding is on the heels of a sharp growth trajectory where the company has doubled in size and revenues in the last six months.
“CustomMade's market traction indicates that consumers are ready for a more personal retail experience, one which offers something uniquely tailored for them,” says Miner. “We've just scratched the surface of what's possible here, and CustomMade is the leader in this e merging space.”
CustomMade is an online marketplace connecting buyers who want one of a kind creations with professional and passionate makers of those goods. Born in 1996 with the vision to help people find the unique gifts, objects and goods they cannot find through traditional retail channels, CustomMade has grown from a community of 350 carpenters to more than 12,000 Makers (and counting) of all trades since its acquisition in 2009.
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