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Founders Fund leads Series A round for Swimwear brand Summersalt

St. Louis, Missouri-based swimwear brand Summersalt has secured $6.1 million in Series A funding. Founders Fund led the round with participation from other investors that included Lewis and Clark Ventures, Revolution’s Rise of the Rest Seed Fund, Dundee Venture Capital, Breakout Capital, Cultivation Capital, Victress Capital, Amplifyher Ventures, M25 and Giuliana and Bill Rancic.

PRESS RELEASE

Summersalt, the St. Louis based direct-to-consumer swimwear brand is announcing today that it has raised a $6.1M Series A, led by Founders Fund, with plans to launch a new category targeted towards modern travelers. Additional participants in the round include Lewis and Clark Ventures, Revolution’s Rise of the Rest Seed Fund, Dundee Venture Capital, Breakout Capital, Cultivation Capital, Victress Capital, Amplifyher Ventures, M25 and Giuliana and Bill Rancic. This round brings Summersalt’s total funding to $8.7M.

Summersalt launched in May 2017, and has quickly become the fastest growing and most disruptive brand in the swimwear industry. Since day one, Summersalt has shaken up the over saturated, wholesale dominated swimwear market by offering innovative, high-end, eco-friendly swimwear, without the designer price tag. A key point of differentiation has been the brand’s data-backed fit system, which was created using over 10,000 real women’s body scans, over 1.5M measurements, as well as an early patent on recommending garments based on body type and consumer preference.

As part of Summersalt’s continued growth trajectory, the brand will use their new funding to grow the team, expand its size offering and develop new categories beyond swimwear, including travelwear and packing essentials. One of the key learnings the data-driven brand has seen is that a large percentage of sales stem from customers purchasing swimwear for an upcoming trip. Travel and tourism is the world’s fastest growing market, hitting over $1.6 Trillion in 2017.

“We are excited to leverage our extensive library of modular designs and rapid supply chain to delight our consumers with modern garments built to travel with her. Summersalt is creating digital product, content, and garments designed to inspire our customer to embrace adventure and to facilitate human connections.” – Lori Coulter, Co-Founder, CEO and President.

With women traveling more than ever before, Summersalt is capitalizing on the market by offering other items that make her experiences more enjoyable. Summersalt’s swimwear is already on her packing list and the brand is excited to continue to fill her suitcase.

“We’re incredibly proud of the brand we have built for women like us who want to be sexy on our own terms. We rejected the oversexualized and tired approach to swimwear design and branding—and our customers have responded.” Reshma Chattaram Chamberlin, Co-Founder, Chief Brand and Digital Officer.

“Traditional retailers and brands are failing today’s consumers by forcing them to choose between quality and value. We’re excited to back Lori and Reshma as they continue building a brand and voice aligned with the modern shopper,” said Stacy Chang of Founders Fund.

In addition to the new category, Summersalt also has plans to roll out a content platform in early 2019, that will connect like minded women and travelers across the globe.

Summersalt has been featured on Forbes, Fast Company, The Today Show, VOGUE, ELLE, and Refinery29, and is often recognized for their commitment to inclusion and diversity.

About Summersalt
Summersalt launched in May 2017 as the direct-to-consumer swimwear brand disrupting the industry with designer quality, eco-friendly suits for just $95. Summersalt achieved exceptional traction and quickly became known as the brand that encourages women to dive into life’s adventures and experiences sexy on their own terms, but swimwear is just the beginning. In late 2018, Summersalt will expand into owning every corner of the on-the-go woman’s suitcase with comfortable, designer quality essentials designed to take the modern traveler from plane to pillow—and wherever adventure leads—in style and comfort.