202107 Jan
Resident Raises $130 Million for Continued Growth of its Mattress and Home Goods Platform
Type
Funding Rounds
Funding
202107 Jan
$130MSeries B
Source
Yahoo
Summary

Series B financing will allow digitally native company to further strengthen performance marketing capabilities, expand retail footprint and scale infrastructure SAN FRANCISCO, Jan. 7, 2021 /PRNewswire/ -- Resident, a platform of digitally native brands in the mattress and home goods market, today announced that in Q4 of 2020 it received an investment of $130 million led by Ion Crossover Partners and Nexus Capital Management with participation from Baron Capital Group. The funds will be used by the company to execute Residents growth plan, expand its brick-and-mortar retail footprint and strengthen its supply chain and infrastructure to deliver a better customer experience. That approach made it very easy for the company to scale its team with domain experts and had the unexpected benefit of keeping daily operations business-as-usual in spite of the pandemic disrupting the typical office environment. "We are confident that the exceptional team and the marketing platform theyve built will allow the company to continue on its unprecedented growth trajectory." As part of the deal, representatives of Ion Crossover Partners and Nexus Capital Management will join Residents board.

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