Not on the High Street , the UK’s best-loved curated online marketplace for unique lifestyle products and thoughtful gifts, today announces it has been acquired by growth equity firm Great Hill Partners.
In February 2018, Burda's investment unit BurdaPrincipal Investments invested for the first time in the direct-to-consumer company Rockets of Awesome. The New York startup is based on a box model which is similar to a subscription model. Parents receive a personalised selection of children's clothing up to four times a year that are designed and produced in-house. This week, Rockets of Awesome received a new growth boost. Along with BurdaPrincipal Investments, a USD 19.5 million new financing round (Series C) included participation from existing investors such as August Capital and Forerunner Ventures. In addition, Rockets of Awesome was able to win the sports retailer Foot Locker as a new strategic partner.
"The new financing round and the strategic partnership with Foot Locker are a powerful proof of Rockets of Awesome's ongoing progress. We are excited to drive further growth and the development of new markets with the team there."
Christian Teichmann, Managing Director of BurdaPrincipal Investments
Convenient shopping experience for children and parents
Rockets of Awesome was founded by entrepreneur and mom Rachel Blumenthal. Her aim was to solve her own problem: Where to buy cool kids' clothes per season, and how to save time doing it? Rachel has already founded several startups, the first one at the age of 23. Rockets of Awesome is pioneering dynamic retail, combining data from customers’ behavioral patterns with their kids’ preferences to provide a highly curated delivery of outfits each season. Gwyneth Paltrow, Serena Williams and Kirsten Green, the founder of Forerunner Ventures, are also enthusiastic about this model and invested in the company.
At the moment, delivery is limited to the USA. You can find more information on rocketsofawesome. com.