New York City-based menswear brand Mack Weldon has raised $4 million in Series A funding. The investors were RiverPark Ventures, Bridge Investments and Lyrical Partners. In conjunction with the funding, Howard Socol has been named to Mack Weldon’s board of directors.
New York, NY – February 24, 2015 — Mack Weldon, an ecommerce-based, menswear brand, announced today that it has closed $4 million in Series A funding both from existing investors and from RiverPark Ventures, Bridge Investments and Lyrical Partners. The capital will be used to further product innovation, scale marketing and optimize Mack Weldon’s e-commerce and mobile platforms. The company is also looking to grow brand awareness through third party partnerships and collaborations.
“This investment will allow us to capitalize on huge customer demand and expand current and new product categories,” says Brian Berger, Founder and CEO of Mack Weldon. “Our mission is to turn the traditional process on its head by delivering products that maximize comfort and performance through a shopping experience that is easy, consistent and repeatable. In just over two years, we have engaged over 50,000 customers exhibiting high repurchase rates. Let’s face it, everyone benefits when guys refresh their underwear.”
Since the company’s launch in 2012, Mack Weldon has delivered strong performance, achieving over 200% growth in 2014 revenue and customers. Driven by the digital leadership of Brian Berger and the product expertise of 25-year apparel industry veteran Michael Isaacman, Mack Weldon fuses old school quality with modern day technology. The company’s collections of underwear, socks and t-shirts are designed with custom fabric blends that combine premium ingredients, including Pima cotton and Lenzing Modal, with performance technology, such as X-STATIC XT2 Silver and Lycra. In place of sales and promotions, Mack Weldon offers “always on” volume-based pricing.
Additionally, close advisor Howard Socol will join Mack Weldon’s Board of Directors. Socol, a highly regarded executive, who previously served as CEO of Barneys New York and J.Crew, will provide expertise on the brands product and distribution strategy.
“I am delighted to join the Board of Mack Weldon. I have been attracted to their creativity, product innovation and marketing – as well as their talented management team,” says Socol.
“We are thrilled about the momentum Mack Weldon is experiencing and believe this additional capital will further accelerate the company’s success,” said Andy Appelbaum, Managing Partner at RiverPark Ventures. “Mack Weldon stands out because they have true product integrity and, even at this early stage, have created brand differentiation.”
For more information on Mack Weldon, please visit mackweldon.com.
About Mack Weldon
Mack Weldon (mackweldon.com) was founded in 2012 by Brian Berger and Michael Isaacman to reinvent men’s basics. Combining old-school quality with modern day technology, the company designs, manufactures and distributes underwear, socks and t-shirts engineered to promote comfort, mobility and performance. Mack Weldon focuses on convenience through a simple, elegant e-commerce site featuring an easy shopping experience and volume-based pricing. They are based in New York City.