Home-goods startup Parachute raises $30 million in Series C Funding

On Wednesday home Goods startup Parachute announced a $30 million cash injection in its series C round.

The funding was led by H.I.G. Growth Partners led the round with participation from Upfront Ventures, Susa Ventures, Suffolk Equity, JAWS Ventures, Grace Beauty Capital and Daher Capital. The new funding brings Parachute’s total funding to around $45 million, according to Crunchbase.

Founded by Ariel Kaye in 2014, Parachute uses European-sourced materials for its highly curated textiles, which it sells directly to consumer online and in three retail stores n Venice Beach, California; Portland, Oregon; and New York.

The startup sells an assortment of home textiles that are sourced in Italy and have a relaxed, gender-neutral aesthetic. It launched with sheets–notably rumpled linen sheets–but has now expanded into other categories, including baby, bath, table linens, and home decor.

The company will use its new funding to open more brick-and-mortar locations, with plans to open 20 stores by 2020. It will also use the money for product innovation and category expansion with strategic investments in marketing, technology and supply chain.

 

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