Clerisy has made an investment in Dormify, a college lifestyle and home décor ecommerce site. No financial terms were disclosed.
NEW YORK–(BUSINESS WIRE)–Clerisy, a new growth equity investment firm targeting consumer and techsumer companies, today announced that it has made its inaugural investment, in Dormify, the dynamic e-commerce platform and brand that redefined stylish dorm room and home décor for Gen Z. Co-founded by former L Catterton Partner Lisa Myers and Gilt and GLAMSQUAD co-founder Alexandra Wilkis Wilson, Clerisy closed the first investment round in the fund in October 2020. The firm partners closely with and invests in extraordinary entrepreneurs who have developed innovative solutions for the evolving consumer and are poised to significantly scale and grow their businesses. Terms of the Dormify investment were not disclosed.
“Roughly 2 million students head off to college each year in the US and we’ve seen Gen Zers enthusiastically invest in putting their individual stamp on their living spaces, even during the pandemic,” said Alexandra Wilkis Wilson, co-founder and Managing Partner of Clerisy. “Dormify is uniquely positioned to benefit from the home category’s momentum and we see significant additional opportunity for growth in dorm and apartment furnishings and lifestyle. We’re extremely pleased to leverage our collective experience, our investors and our deep bench of diverse experts to support the company to accelerate growth and scale.”
Clerisy provides a platform for institutions, family offices and high-net-worth individuals from around the world looking to make meaningful investments in unique growth equity opportunities. Clerisy’s investors have the opportunity to invest in and engage with promising, innovative consumer companies that have established traction but need additional capital and expertise to scale. The firm’s name is derived from the word “clerisy,” meaning a group of learned, collaborative, innovative people. The name reflects the 20-plus years of knowledge and the global perspective, extensive consumer experience and robust networks that the fund’s founders possess and will leverage on behalf of Clerisy’s portfolio companies.
Lisa Myers, co-founder and Managing Partner of Clerisy, added, “We’re committed to delivering superior investment returns by partnering closely with talented entrepreneurs like Amanda Zuckerman who are innovating to solve problems and meet the evolving needs of consumers. We understand how to help companies like Dormify expand their total addressable market, employ transformative technology, optimize their supply chains, leverage different channels of distribution and create dynamic branding strategies that engage key demographics.”
Launched in 2013, Dormify is the go-to resource for college lifestyle and small space home décor. With an intuitive understanding of the Gen Z consumer, Dormify utilizes technology and design to uniquely engage its core customer. Sharing a similar consumer and ethos, AEO Inc. led a $3.45 million Series A investment round in 2018 to propel Dormify’s growth and establish a strategic partnership for home and apartment décor and accessories to complement its highly successful apparel business.
“We’re thrilled to have Clerisy’s support to accelerate our business at a time when Gen Z is increasingly focused on creating individualized and functional living spaces as a key part of their self-expression,” said Amanda Zuckerman, co-founder and Chief Brand Officer of Dormify. “We’re committed to continue listening to what college students want and using technology to create and curate the most relevant assortment of product to inspire our consumers to design a space that looks like them and feels like home.” Karen Zuckerman, co-founder and Chairman of Dormify, added, “Clerisy’s investment will catalyze our category presence and grow our business to new heights. They are the type of partners we’ve dreamed of.”
Clerisy co-founder and Managing Partner Lisa Myers previously served as a partner on the Flagship Buyout Fund at L Catterton, the largest consumer-focused private equity fund in the world. Currently, she serves as the President of Aspirational Consumer Lifestyle Corp., a $240 million SPAC in which L Catterton is a minority shareholder and which recently announced its intended merger with Wheels Up, the renowned brand democratizing private aviation with its digital marketplace. Prior to joining L Catterton, Lisa spent 19 years with Franklin Templeton, where she was an EVP and portfolio manager in the firm’s Global Equity Group, responsible for some of the firm’s flagship global equity funds and institutional separate accounts, while also serving as coordinator of global consumer research. Lisa also served as Co-head of Global Partnership Investing at BTG Pactual. Lisa has served on the boards of public companies and currently serves on the board of several private companies. She began her career as an associate at Willkie, Farr & Gallagher LLP. Lisa holds a BA from the University of Pennsylvania and a JD from the Georgetown University Law Center. She is a CFA charterholder and a member of the CFA Institute.
Alexandra Wilkis Wilson is an entrepreneur, investor and advisor who previously co-founded and served as Chief Merchandising Officer of luxury e-commerce platform Gilt.com and co-founded and served as CEO of GLAMSQUAD. At Gilt, she helped define a new consumer digital experience that upended luxury retail and attracted millions of shoppers. Her extensive experience also includes strategy, marketing, sales and operations roles at Allergan, Bulgari and Louis Vuitton. She began her career as an analyst in the Global Investment Banking Division of Merrill Lynch. Wilson has advised and/or invested in over 50 early-stage businesses and has served on the boards of both public and private companies. She is co-author, with Alexis Maybank, of the New York Times bestselling book By Invitation Only: How We Built Gilt and Changed the Way Millions Shop. Wilson holds an AB from Harvard University and an MBA from Harvard Business School.
Clerisy is a growth equity firm investing in consumer and techsumer companies. Clerisy invests in fast-growing companies that have a proven product or service that is uniquely solving a problem, meeting a need or fulfilling a preference for one or more demographic cohorts of consumers. Clerisy partners closely with entrepreneurs and management teams by sharing deep expertise, networks and resources with them to further enable their success.
For more information, please visit Clerisy.com.
Dormify.com is a college lifestyle and home décor destination that simplifies the shopping experience for college students, teens and post-grads. The company creates and curates exclusive products specifically designed for Gen Z’s living spaces, while arming this generation with the tools they need to make their space their own. Founded by Amanda Zuckerman and her mother Karen when Amanda graduated college in 2013, Dormify has grown into a trusted resource for distinctive décor, innovative shopping tools, endless inspiration, and valuable content.
Dormify has been featured in The New York Times, The Washington Post and Good Morning America. Co-founder and Chief Brand Officer Amanda Zuckerman was named to Forbes’ 30 Under 30 list in 2018.