Away, the New York based modern travel-based luggage bag maker has bagged a $100 million Series D financing as it becomes the latest entrant of the unicorn club. The freshly raised round was led by Wellington Management with participation from Baillie Gifford, Lone Pine Capital, and Global Founders Capital.
Prior to this round, the company had raised $50 million in Series C which was led by Global Founders Capital. With the current infusion, the total amount raised by the firm now stands at $181 million. The other backers include the names like Forerunner Ventures, Comcast Ventures, Accel, Battery Ventures, Shawn Carter, Slack CEO Stewart Butterfield, and Karlie Kloss.
Launched in 2015 by Jen Rubio, and Steph Korey, the company offers high-quality luggage at an affordable price. The bags are designed keeping the modern traveller in mind, solving real-time problems of the travellers. The company plans to use the raised money to launch more brick-and-mortar stores along with foraying into generic travel gear section. The company claims to have sold more than 1 million suitcases. Notably, the company made the profitability announcement as well, which itself is an achievement provided the company is not very old.
Rubio, the chief brand officer of the firm has done an excellent job in marketing the product through social media. Rubio while speaking about the company in an interview had said, “When someone’s going on a trip, we want to make everything that they need to go on that trip."
As the fresh funds have arrived, it will be interesting to see how the firm manages to attract more customers through various other travel gears and new products.
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