American swimwear startup Andie Swim (Andie for short) announced on Thursday that it has completed a $6.5 million Series A funding round, which will be used to further expand the company's business scope.
Led by U.S. venture capital funds CityRock Venture Partners and Trail Mix Ventures, Andie will expand its female team, create inclusive new product lines, and attract more female partners. Not long ago, Andie hired its first international marketing director. With this capital injection, Andie will hire more employees. Founder and CEO Melanie Travis hopes to double the current staff of 12.
Since this summer, Andie has launched swimwear suitable for pregnant women and children. With expanded marketing investments, including promotions on podcasts and television, Andie has become increasingly popular among consumers, and the company plans to further expand its product categories in the future.
Andie's product design is based on the concept of "fit, comfort, easy to buy and wear," and its business model is also unique. During conversations with customers, Travis found that consumers dislike trying on swimwear in stores but are not always confident in online shopping. So she launched a direct-to-consumer swimwear model, where customers can try on several swimsuits sent by Andie during a trial period, keep only what they need, and mail back the rest.
In 2018, Andie completed a $2 million seed funding round to accelerate product development and e-commerce business experience, and expand its core team. As a direct-to-consumer (DTC) internet brand, Andie, founded three years ago, sells only online and focuses on the swimwear sector. The brand's swimwear has been favored by many consumers during the ongoing pandemic.
Travis said, "Many people think swimming is often associated with vacations or travel, but it turns out you need a swimsuit even if you're not going anywhere else. During the pandemic, our product sales really surprised me." Travis did not disclose the brand's specific sales revenue, only stating that "sales exceed $20 million." She noted that since its official launch in April 2017, the brand's sales have grown by an average of 400% annually.