Sausalito, California-based housewares company Lifefactory Inc has secured $5 million in Series C funding. Silas Capital led the round with participation from existing backers Greenhouse Capital Partners, dCapital, FOFM and Big Sky Partners.
SAUSALITO, CA (AUGUST 26, 2015) – Lifefactory, Inc., one of the fastest growing housewares companies in the U.S., today announced that it has closed a Series C growth equity financing of $5 million. The round was led by Silas Capital, with a $4 million investment, and participation from all major shareholders: Greenhouse Capital Partners, dCapital, FOFM and Big Sky Partners.
The latest round of financing comes as a result of the sustained expansion and performance of Lifefactory’s business, and will be used to further the brand’s continued impressive growth. The Company has increased revenue by over 750% in the last five years and has been profitable since 2012. The capital will be used to expand the team, accelerate product development and build the brand.
Lifefactory is a pioneer in reusable glass water bottles, baby bottles, and food storage solutions. Its products are made in the U.S. and E.U., and are available in over 3,000 premium retail locations and in over 20 countries. Retail partners include Amazon.com, Bed Bath & Beyond and Whole Foods Market. Lifefactory’s glass water bottles have been bestsellers in Whole Foods Market, as well as in the broader natural and specialty channel, for consecutive years.
“We believe we have a significant opportunity to help our customers live healthier and happier lives,” said Roy Mabrey, CEO of Lifefactory, Inc. “We have expanded from an initial line of baby bottles to a full assortment of product for happy, healthy families and believe we can leverage our brand platform to continue to deliver dramatic growth globally,” continued Mabrey.
Along with this financing, Carter Weiss, a Managing Partner of Silas Capital, will join the company’s Board of Directors. “The demand for healthy lifestyle brands, especially authentic ones like Lifefactory whose products are made from exceptionally high-quality materials, will continue to grow,” said Carter Weiss. “Lifefactory has great retail partnerships and strong patent protection for their innovations. They’ve also built a uniquely trusted brand with loyal and passionate customers. We are excited to be a partner to help them unlock their potential as a global brand,” added Weiss.
ABOUT LIFEFACTORY, INC.
Lifefactory designs healthy housewares solutions for modern life. The Company brings the purity of glass, the protection of silicone, and the power of color to a full line of products designed for everyday use by healthy families. The Lifefactory line began with baby bottles, and has grown to include iconic adult water bottles, wine and beverage glasses and oven-friendly food storage. All components are made in North America or Europe. The Company is privately held and headquartered in Sausalito, CA. Learn more at www.lifefactory.com.
ABOUT SILAS CAPITAL
Silas Capital is an early-stage private equity firm investing in the next generation of consumer brands. Formed in late 2011 by former consumer products entrepreneurs and investors with a long track record of success across consumer, retail, and Internet sectors, the firm differentiates itself by being one of the few experienced firms that specialize in early-stage consumer products and retail companies. The firm’s investments range from healthy food companies like Pasta Chips and Bare Snacks to fashion brands such as Proenza Schouler in its growth-equity portfolio, to venture capital breakouts like Casper, Ringly and Tracksmith in its venture portfolio. Learn more at www.silascapital.com.