The Citizenry raises $20 million in Series B funding

Direct-to-consumer home brand The Citizenry has raised $20 million in Series B funding that will be used to accelerate the company’s evolution into a whole home brand.

“To fulfill our, we needed to build a new business model and artisan supply chain,” said Rachel Bentley, The Citizenry co -founder. “We wanted to create a brand that would set unprecedented standards for quality, transparency, and social responsibility in the home decor market.”

San Francisco-based NextWorld Evergreen, a growth equity firm with a focus on socially conscious consumer brands, raised the funding.

“We are extremely proud to further their vision of building The Citizenry into a brand that sets new standards within the home décor industry,” said Tiffany Obenchain, partner at NextWorld Evergreen. “Our investment embodies our commitment to partner with founders to build the next generation of consumer brands that drive positive social and environmental change in concert with best-in-class business results.”

The Citizenry is known for working with local artisans and for its globally-inspired aesthetic in soft goods. The Series B funds will accelerate the expansion of the company’s furniture collection, as part of its transformation to become a whole-home destination.

The Citizenry’s flagship store in Soho, which opened in late 2020, will serve as a model for future retail expansion.

Since closing its Series A in December 2019, The Citizenry has grown sales more than 200% with repeat customers driving 45% of sales. Over the same period, it has supported over 3,000 artisan jobs. On average, The Citizenry pays artisan partners more than two times the Fair Trade Standard and is a member of the World Fair Trade Organization.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *