SANTA MONICA, Calif.--(BUSINESS WIRE)--Outer, the Santa Monica-based direct-to-consumer outdoor furniture brand, best known for their revolutionary OuterShell furniture cover, announced a $10.5 million Series A investment round. The investment, led by Sequoia Capital China and backed by a number of existing and new stakeholders, will enable Outer to expand their product line beyond outdoor sofas and rugs, strengthen their commitment to sustainability through material development, and grow their innovative showroom footprint to more than a thousand Neighborhood Showroom locations in 2021.
The Series A financing builds on an exceptional year for Outer, which experienced 1000% increase in sales over last year. Despite the downswing of the retail sector in response to the pandemic, customers have found sanctuaries within their backyards, decks, porches, and more. As a result, the home industry has experienced surprising growth, and Outer’s expansion is indicative of this demand, with predicted sales to exceed $12M this year. Earlier this fall, Outer introduced the brand’s second product line, the eco-friendly 1188 Rug Collection -- masterfully made from 100% recycled plastic water bottles -- and was named the fastest-growing direct-to-consumer brand by Business Insider.
“Growing more than 10x in year two of our launch and rapidly increasing word-of-mouth is a testament to our debut product, the Outer Sofa,” said Jiake Liu, Co-Founder and CEO of Outer. “There has been an enormous amount of love and support that our team has received from our customers who are asking for coffee tables, chaise loungers, dining sets, and many more products from Outer. Our mission has always been to create beautiful, durable, and innovative outdoor furniture focused on quality and sustainability. Now with backing from some of the world's most visionary investors, we are even more eager and confident in our mission to bring more life outside.”
Outer will use the funding to focus on growing the team and doubling down on product research and development, which will enable the company to evolve beyond a single-product company to an outdoor lifestyle brand. This new capital will serve as a vehicle to further expand the fast-growing Neighborhood Showroom backyard shopping model to more than a thousand locations and become the largest crowdsourced showroom footprint in the US.
In addition to Sequoia Capital China, the new funding comes from notable angel investors such as: Andy Katz-Mayfield & Jeff Raider (Co-Founders of Harry's), Justin Kan (Founder of Twitch), Jason Calacanis (Founder of LAUNCH Syndicate), Robin Chan (Founder of Goat Capital), Scott Tannen (Founder of Boll & Branch), Alex Pall and Drew Taggart of The Chainsmokers (investing via their newly announced Mantis Venture Capital), and many others, in addition to returning investors including Mucker Capital, Social Starts, Unlock Venture Partners, Overtime VC, and Plum Ventures.
Katz-Mayfield of Harry’s said, “We immediately recognized that Jiake and Terry’s focus on product details would lead to a portfolio of truly innovative and quality products. They think through every inch of a product, down to the screws and fabric yarns, and address problems that are hidden in plain sight, such as covering cushions with their clever OuterShell; their attention to detail truly differentiates Outer from all other outdoor furniture products on the market. Beyond that, we believe in their ambitious and compelling vision to change how we shop for home goods with their Neighborhood Showroom platform. We're thrilled to support Outer on its journey.”
Launched by Co-Founders Terry Lin and Jiake Liu in 2019, Outer is known for beautiful, carefully-crafted products with premium materials that are not only stylish and comfortable, but built to last, even in tough outdoor conditions. Vertically integrated with their family-owned factory, Outer takes pride in the relationships with their team who so carefully craft their products. With a focus on sustainability, they strive to use recycled materials and environmentally-friendly production processes. The brand is a committed partner of 1% for the Planet with the goal of supporting and advancing environmentally-focused non-profits worldwide.
For more information, please visit liveouter.com or follow along on Instagram @liveouter. The brand is actively recruiting for multiple positions; please visit liveouter.com/careers for more information on open roles.
About Outer
On a mission to bring life outside, Outer has completely reinvented the way outdoor furniture is made, sold, and enjoyed. The direct-to-consumer brand, based in California, creates sophisticated, durable, and versatile pieces expertly designed and carefully crafted from the highest-quality, eco-friendly materials. Outer promotes conscious design for a better world and is building a community of backyard enthusiasts. They take an educational, innovative approach to the customer experience, beginning with their Neighborhood Showrooms, which transports the traditional brick-and-mortar shopping model into their customer’s backyards. Shoppers can experience the Outer sofa in person in a real-life backyard and connect with others in the Outer community. The brand is currently exploring new pieces to expand their product line, all with the core tenets of eco-consciousness, durability, and versatile styling.