Financing will Accelerate the Floral Tech Startup’s Growth, as Something Borrowed Blooms Capitalizes on the post-COVID Wedding Industry
LAFAYETTE, La., June 10, 2021 /PRNewswire/ — Something Borrowed Blooms, pioneer of the silk wedding flower revolution, today announced a $1.5M Series A funding round led by Callais Capital. This investment brings the total raise by the company to just over $2M since 2015. Funding will support the company’s growth trajectory, with increasing demands from the wedding industry post-COVID.
Last year, the tech startup achieved a 35% growth rate in an industry that experienced significant contraction. And on the backside of COVID-19, the company anticipates growth exceeding their 150% average annual growth rate with pent-up demand in the wedding space and increasing demand from Gen Z for weddings without waste. Securing funding in preparation for the industry’s comeback was essential for the company.
“We founded Something Borrowed Blooms on the foundation of cost savings, but immediately saw a need to modernize the industry by offering a stress-free and transparent e-commerce solution for wedding flowers. In doing so, we’ve created a business model that’s truly unique and provides value to today’s consumers looking for more sustainable and eco-friendly options for their wedding day. Partnering with Callais Capital will enable Something Borrowed Blooms to reach a larger audience and further innovate our services,” says Lauren Bercier, co-founder and CEO.
“Lauren and Laken have carved out a unique niche within the wedding market, laying groundwork for continued expansive growth,” said Hal Callais, Managing Partner and CIO of Callais Capital. “They pair on-trend aesthetically appealing products with a convenient user experience, to compliment a couple’s vision without compromising or exceeding their budget.”
The latest round of financing will support a 10,000 square foot warehouse expansion to the company’s headquarters in Lafayette, LA, in addition to expanding product offerings and tech solutions to meet the needs of their growing customer base.
ABOUT SOMETHING BORROWED BLOOMS
Something Borrowed Blooms is an online silk floral service that is modernizing the wedding flower industry by offering a rental model that has changed the way couples plan and pay for wedding flowers. Founded by cousins, Lauren Bercier and Laken Swan in Lafayette, LA, the company serves an average of 700 weddings per month across the US and Canada. Providing the highest quality silk florals and modern designs, the company provides an affordable and stress-free floral alternative that is more sustainable than fresh flowers.
Something Borrowed Blooms was awarded the Bronze FedEx Small Business Grant and most recently named the Grand Prize Winner of IdeaPitch at New Orleans Entrepreneur Week. They have previously been featured on Good Morning America’s Stahan, Sara & Keke alongside The Budget Savvy Bride. For more information, visit somethingborrowedblooms.com.
ABOUT CALLAIS CAPITAL
Callais Capital Management is an early-stage venture capital firm based in Louisiana that invests in innovative companies and founders who are rapidly scaling their businesses. Callais Capital’s team leverages their background and expertise in entrepreneurship, investing, and deep roots in a region underserved by institutional investors to identify high-growth opportunities and startups in need of expansion capital. They draw from four generations of business insight, a distinguished network of professionals and deep board experience across industries to source, scale, mentor, and strengthen startups and founders. Callais Capital Management is a Louisiana Registered Investment Advisor. For more information about Callais Capital Management, visit www.callaiscapital.com.
SOURCE: Something Borrowed Blooms