UrbanStems Raises $12 Million In Series B To Scale Up Its Growth

August 5th, 2019

UrbanStems, the Washington DC-based flower delivery startup announced that it had raised $12 million in Series B funding round. SWaN & Legend Venture Partners and Motley Fool Ventures led the funding round that witnessed participation from Middleland Capital, NextGen Venture Partners, and Sagamore ventures.

The startup had previously bagged $6.8 million in its Series A Funding that was also led by Swan & Legend Venture Partners. The latest funding will be geared towards national expansion. 

Founded in 2013, the startup started delivering fresh flowers to customers through its bikes. Along the course, the company has extended its services by partnering with third-party couriers to deliver flowers in all parts in the US on the next consecutive day once the order is placed.

UrbanStems offers same-day delivery in New York City and Washington DC through bike couriers. The startup claims that it can deliver fresh flowers within 2 hours to customers residing in New York and Washington DC. 

UrbanStems Raises $12 Million In Series B To Scale Up Its Growth

UrbanStems is currently focusing on expanding its product portfolio to go beyond flowers to deliver plants, bouquets, and curated gift boxes. The startup recently entered a partnership with Vogue to delivery bouquets created by Vogue editors.

“The gifting market is far bigger than just the flower market. We are providing more than a product. Gifting itself is a highly emotional, vulnerable experience,” commented CEO Seth Goldman regarding the new initiatives. 

David Strasser, Managing Director of SWaN & Legend Venture Partners, stated that his firm was impressed by the team led by Seth Goldmann that worked on the strong foundation laid by the co-founders for the pre-eminent gifting platform of the future. He further expressed his excitement in his firm's extended partnership with the startup to scale up its growth. 

UrbanStems witnessed a major change in its leadership when formed COO Seth Goldman took over the CEO role form one of the co-founders Ajay Kori in May last year.

Goldman started his work in UrbanStems as COO in 2017 after having served as CEO for HelloFresh USA. Kori will remain seated in the chairman of the board.

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