The goal of our seed program is to find, fund, and help entrepreneurs in the early stages of their journey toward building billion dollar consumer brands.
Seattle, WA and San Francisco, CA (PRWEB) March 27, 2013
As many angel investors and venture capitalists move away from consumer businesses in favor of enterprise investments, Maveron (http://www.maveron.com) is increasing its investments in early-stage consumer businesses. Maveron, a venture capital firm that exclusively invests in transformative consumer businesses, announced today that it will make more seed investments in passionate entrepreneurs who are ready to disrupt industries, displace incumbents, and establish market leading consumer businesses. The firm, which has already completed three seed investments in 2013 and more than 15 in the last two years, including Everlane, CircleUp, Julep, and CourseHero, aims to make at least one seed investment per month in amounts ranging from $100,000 - $250,000. The seed investments will focus on early-stage consumer businesses with technology-enabled products and services in commerce, education, and health and wellness.
“The most successful tech-enabled consumer businesses that have emerged over the last decade have created almost a trillion dollars in equity, while massively disrupting incumbents in the retail, financial services, education and health care industries,” said Dan Levitan, who co-founded Maveron with Starbucks chairman and CEO Howard Schultz. “Technology will continue to enable new consumer businesses, but most consumer startups no longer require a substantial amount of capital to launch. The goal of our seed program is to find, fund, and help entrepreneurs in the early stages of their journey toward building billion dollar consumer brands. We view seed investments as a way to build a strong working relationship with entrepreneurs that can lead to a larger Maveron investment over time.”
Consumer is the World Maveron Knows
Maveron has always focused on consumer businesses where the firm’s deep understanding of consumer buying habits, and its extensive network of consumer-focused business resources and connections can help founders and their teams quickly accelerate a company’s growth. Over the years, Maveron’s investments have spanned from early-stage to later-stage investments. But more recently, the company has focused on getting to know and helping entrepreneurs during the early stages of their consumer businesses. For example, Maveron was a seed investor in Julep less than two years ago, which then became a Series A investment last spring. Julep has become one of the fastest growing beauty brands in the U.S. and recently announced $10.3 million in a Series B financing round led by Andreessen Horowitz, with Maveron’s participation. The company’s unparalleled product innovation and speed-to-market, coupled with vocal social media engagement instead of traditional marketing, have enabled Julep to produce more products in an 18-month span than any other beauty company.
“Many venture capital firms told me point blank that they only did a handful of deals a year, and they didn’t want to work with a beauty company,” says Julep CEO Jane Park. “What they didn’t understand is that I wanted to do more than create a beauty company, I wanted to use the potential of the web and social media as the foundation to build the next great enduring beauty brand. Maveron got it immediately and has been amazing in helping us whenever and wherever needed.”
Recent Series A investments by Maveron in early stage consumer companies also include wellness startup Lively, which was incubated in Maveron’s office, and General Assembly, a fast growing education business based in New York.
Maveron is a venture capital firm that exclusively invests in consumer companies. Founded in 1998 by Dan Levitan and Howard Schultz, the firm has offices in Seattle and San Francisco. Representative Maveron investments include Altius Education, eBay, Capella Education, General Assembly, Julep, Shutterfly, Trupanion and zulily. For more information about Maveron, visit http://www.maveron.com, follow on Twitter @maveron or connect on LinkedIn.