MIAMI, Nov. 26, 2019 /PRNewswire-PRWeb/ -- Arteza, the leading direct-to-consumer arts and crafts supplies company, today announced it has raised $24 million in Series A funding from growth equity firm Volition Capital. The company's revenue growth was driven by rapid expansion of its customer base to over 2 million globally with similarly aggressive growth in its product portfolio with over 500 new products launched in 2019.
Arteza also announced that Larry Cheng, Managing Partner, and Dave Gordon, Principal at Volition Capital have joined its board of directors.
Founded in 2015, Arteza is disrupting the legacy arts and crafts supplies industry, which has been ripe for innovation in product design, retail experience, and customer service. Arteza's unique focus on customers and its 750+ products, which are available direct to students, hobbyists, and professional artists, have fueled significant growth and customer loyalty.
"The arts and crafts supply industry was stale for decades, and our vision was to breathe new life into the market with a fresh approach to products, commerce, and the customer journey," said Mike Koshatko, co-founder at Arteza. "As a bootstrapped company with a proven business model and eye on further growth, we found a natural partner in Volition Capital. This investment and access to Volition's expertise and guidance will keep us well-positioned as the leading D2C art supplies brand."
Also driving Arteza's success as a digitally-native brand is its commitment to elevating the experience for customers and artists everywhere. The company's 'Creator's Central' blog provides free video tutorials and inspiration for artists, and it has built up a highly engaged community of almost 350K Instagram followers. The company offers 24 x 7 customer service with art enthusiasts which has garnered Arteza a 95 Net Promoter Score—indicating market-leading customer satisfaction.
"Arteza has reinvented the art supplies industry by focusing on premium design, rapid innovation, affordability, and customer experience. They have built a tremendous competitive advantage over legacy art products and retail brands through their disruptive approach," said Larry Cheng, Managing Partner at Volition Capital. "It is truly rare to see a company experiencing rocket-ship growth, while also being profitable and bootstrapped, and we are excited about the opportunity to work with them to realize their aspirations."
Arteza sells direct to consumers through its website. To learn more about the company and its products, visit https://arteza.com/.
Founded in 2015, Arteza's mission is to inspire a more creative tomorrow by providing high-quality yet affordable arts & crafts supplies. With more than 2 million customers across 100 countries, Arteza has redefined the art supply industry with its direct-to-consumer model, new product innovation, and a robust online and social media presence focused on providing superior customer experiences. The company is headquartered in Miami, Florida and sells online at https://arteza.com/. Follow on Instagram @artezaofficial.
About Volition Capital
Volition Capital is a growth equity firm that principally invests in high potential, founder-owned companies across consumer, software, and Internet sectors. The firm selectively partners with founders to help them achieve their fullest aspirations for their business. Much of Volition's success has come from investing in founder-owned, capital-efficient companies in sectors such as: enterprise SaaS, consumer e-commerce/brands, tech-enabled services, and transactional Internet applications. For more information, visit http://www.volitioncapital.com.