Resident Raises $12.5 Million, Seeks Expansion Into New Product Categories

  • January 7, 2020 at 10:50 PM EST
  • By Bryan Wassel
Share on linkedin
Share on twitter
Share on facebook
Share on reddit
Share on email

Resident, the parent company of brands including Nectar and DreamCloud, has raised $12.5 million through a funding agreement with Liquidity Capital. Resident plans to use the investment to accelerate its growth into additional home product categories.

The e-Commerce retailer gets 80% of its traffic and 50% of its sales from mobile devices, putting Resident at the forefront of mobile retailing. The retailer made its name selling memory foam mattresses, but has continued to grow its direct-to-consumer sales into categories including rugs, couches, chairs and bean bags.

“We are thrilled to be investing in Resident,” said Ron Daniel, Co-Founder and CEO of Liquidity Capital in a statement. “This investment strengthens our investment portfolio greatly. We are happy to be doubling down on e-Commerce, pairing Resident with our investment in Le Tote, a leader in e-Commerce fashion retail. We’re excited to watch the continued hyper-growth of Resident and give them any support needed along the way.”




Access The Media Kit


Access Our Editorial Calendar

If you are downloading this on behalf of a client, please provide the company name and website information below: