Outer announces the close of a $50 million Series B investment round—which comes after the company raised $10.5 million in Series A funding in January 2021—and brings the startup’s total funding to $65 million.
The new investment was led by Kathy Xu of Capital Today along with Tribe Capital, C Ventures, TRAC VC, and Upfront Ventures. Existing investors, including Sequoia Capital China, Mucker Capital, Mantis VC, Unpopular Ventures, and Reimagined Ventures also participated in the round.
Outer was named the fastest-growing home brand of 2020 by SimilarWeb and Business Insider—experiencing a 1000 percent-plus increase in sales amid the pandemic—which was led in part by the company’s Neighborhood Showroom program, which allows shoppers to visit the homes of nearby Outer customers to experience Outer products firsthand. The program has grown from 50 locations in 13 states in 2019 to more than 1,000 locations in 49 states today.
“When I first met Jiake, we talked for 3 hours,” says lead investor Kathy Xu of Capital Today. “His mission to get people outside was simple but powerful. Consumers are now acutely aware of the importance of outdoor living and Outer’s rocketship growth is a testament to the thoughtful design behind every product. The company is breathing new life into an industry that has long been an afterthought—and their recent success is just the beginning.”
The new funding will be used to help Outer develop new sustainable materials, build an eco-friendly supply chain, and expand their product offering and community. The startup plans to expand internationally before the end of the year and is currently hiring across a variety of teams and roles.
“Our work in sustainable materials isn’t stopping at recycled plastics,” says Outer’s CEO Jiake Liu. “We are working on new, eco-friendly fabrics, plastics, and concrete to replace the industry standards that currently pollute our environment. We are currently working towards carbon neutrality and have set our sights on becoming carbon negative in the future.”
