UrbanStems raises $12M Series B funding round, and gets new CEO - Technical.ly DC

Business

Aug. 16, 2019 11:10 am

UrbanStems raises $12M Series B funding round, and gets new CEO

The online flower delivery startup said it will use the funding to expand its next-day delivery service to nationwide customers and invest in their operations and brand tech to make a greater gifting experience.
Bumble x UrbanStems.

Bumble x UrbanStems.

(Courtesy photo)

D.C.-based UrbanStems announced that it has raised a $12 million Series B funding round.

The round was led by SWaN & Legend Venture Partners and Motley Fool Ventures with additional investments from Middleland Capital, NextGen Venture Partners, Sagamore Ventures and others. The online flower deliver startup said in a press release that it will use the funding to expand its next-day deliver service to nationwide customers and invest in their operations and brand tech to make a greater gifting experience.

“We are excited to continue to invest in the growth of UrbanStems. We continue to be impressed with the team led by Seth Goldman, as he builds on the strong foundation the cofounders laid out in building the preeminent gifting platform of the future,” David Strasser, managing director of SWAN & Legend Venture Partners, said in a statement.

With this funding round, Goldman was promoted to CEO of the company, after serving as COO, the press release states. This is not his first time working as a CEO, as he also previously led HelloFresh USA in its early growth stage days.

UrbanStems launched in 2014 and has a mission to make gift-giving feel easy through thoughtful flowers. The startup often engages the community with special promotions and partnerships. This is how the company stays ahead of traditional floral shops. UrbanStems reports raising over $27 million in funding from rounds led by SWaN & Legend, Grotech Ventures and NextGen Ventures since its inception.

Motley Fool Ventures was the newest lead on this Series B round, and said it will offer UrbanStems a connection with its network of members.

“UrbanStems has many of the characteristics we love to see in our portfolio companies — a tireless commitment to delighting customers, a focus on operational excellence, and the desire to disrupt incumbents in a market that’s ripe for change,” Ollen Douglass, managing director of Motley Fool Ventures, said in a statement.

This funding announcement comes the same week as UrbanStems was recognized on the 2019 Inc. 5000 list, a directory of the country’s fastest-growing private companies. The startup came in at #385.

Advertisement

-30-
BECOME A CONTRIBUTOR TO THE JOURNALISM FUND TO COMMENT
Already a contributor? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

CoTripper takes first place at 2019 Startup Week DC pitch competition

Please Assist Me wins again with $20K grand prize at 2019 Vinetta Project final

Starry Internet opened an office in Arlington

SPONSORED

DC

Verizon is looking for the brightest ideas on how to use its 5G technology

Washington, D.C.

The Washington Post

Senior Full Stack Software Engineer

Apply Now

Philadelphia, PA - Center City

Odessa

Business Architect

Apply Now

DC, SF, NYC

Nava

Experienced Software Engineer – Backend

Apply Now

Localized closed on a $1.2M funding round

Apps are open for SEED SPOT’s spring 2020 Impact Accelerator

5 local startups will take center stage at the 2019 DC Startup Week Pitch Competition

SPONSORED

DC

Escape the August heat with cool AI tech

Offsite

Philadelphia Home

Social Media Catalyst

Apply Now

Columbia, MD

Vectorworks

Rendering Engineer (OpenGL, Vulcan, C++)

Apply Now

Columbia, MD

Vectorworks

C++ Software Engineer (3D Lighting Design Software)

Apply Now

Sign-up for daily news updates from Technical.ly Dc

Do NOT follow this link or you will be banned from the site!