Birdies aims for expansion following $8m Series A funding round
today Jan 21, 2019
Footwear brand Birdies has raised $8 million in a round of series A funding, bringing the company's total funding to $10 million.
According to a press release, the funding will be used to expand the Birdies product line, grow its team "significantly" over the next 12 months, expand its retail presence and support inventory as the brand works with a reported online wait list of over 30,000 people. In addition, the brand also plans to grow its social impact efforts, focusing on the support of women in need.
Led by Norwest Venture Partners, the round of funding was also supported by the brand's existing institutional investors Forerunner Ventures and Slow Ventures.
Seeking to offer footwear that "combines the style of a designer flat with the comfort of a sneaker and the softness of a slipper," Birdies launched in 2015 with a $2 million seed round led by Forerunner Ventures.
More recently, the brand reported its sales were up 400 percent for 2018 as fashion's footwear scene becomes increasingly focused on shoes like sneakers and sandals over high heels: according to market research firm NPD Group, sneaker and comfort shoe sales increased by 37 percent in 2017, while women’s heel sales were down by 11 percent from 2017 to 2018.
Based in San Francisco, Birdies is a primarily direct-to-consumer company that sells through its website and San Francisco flagship, as well as through a limited wholesale partnership with Nordstrom.
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