LEHI, Utah, Nov. 29, 2018 /PRNewswire-PRWeb/ -- RAGS, today announced the closing of a $1.5 million Second Seed round investment. The round was led by Kickstart Seed Fund, with participation from existing investor and board member Jeremy Andrus, CEO of Traeger Grills, as well as James Ho of AEA Investors and Davis Smith of Cotopaxi. The additional funding will enable the company to accelerate its growth and expand the product line. RAGS has now raised a total of $3M in Seed Funding. With this financing Curt Roberts, partner at Kickstart, will be joining the Rags board of directors.
RAGS is a startup best known for its innovative RAG design that has a patent-pending neckline that makes it very easy to pull on and off: no buttons, no snaps, just simple and easy. With new releases of limited-edition designs every week, each style is unique. RAGS are stylish, comfortable and convenient - loved by both parents and children. The brand has built a loyal following that eagerly await new product drops to ensure that they grab one before they sell out, often in minutes, and will camp out overnight for sample sales.
"I started sewing Rags in my parent's basement, then moved into a house, hired a couple of people, and ran the business from my garage. Now, I have the best team ever who are helping RAGS grow even more," said Rachel Nilsson, CEO and founder of RAGS. "The support has been mind-blowing. We have the best customers in the world. They have grown up with RAGS and I am really excited to have our products continue to grow with them."
"Rags is one of the most compelling consumer companies we've ever seen," says Curt Roberts, partner at Kickstart. "Rachel has built a passionate followership that really appreciates what she had done for kids apparel and have connected with her and the brand at a truly emotional level. That's not accomplished easily. By anyone. Rachel's the real deal, and people see that. We're confident that Rags has the potential to be a very big company."
"It is exciting to get the chance to invest in a company that has a truly unique, quality product and an incredibly passionate consumer base, like RAGS. RAGS has a solid brand voice that parents really connect with and their fans keep coming back for more," said Jeremy Andrus, CEO of Traeger Grills and RAGS board member. "I haven't seen many brands truly connect with their community in the way RAGS does. The brand has huge potential to expand their product line and grow with these loyal RAGS families. I'm excited to see what's next for them."
RAGS has been featured on ABC's Shark Tank, and made the list as one of the top 10 pitches of the season. On the show, Rags received three offers from the Sharks. The brand has also been featured multiple times by Forbes, Vogue, People, US Weekly, Pop Sugar, Brit + Co, and more.
About RAGS
RAGS is a Utah based fashion brand founded by Rachel Nilsson in 2014. The brand's flagship product is its innovative RAG design that has a patent-pending neckline that makes it very easy to pull on and off, no buttons, no snaps, just simple and easy. With new releases of limited-edition designs every week, each style is unique. For more information, visit https://rags.com
About KickStart Seed Fund
Kickstart Seed Fund is a seed-stage venture capital firm based in Salt Lake City, UT. Kickstart Seed Fund's mission is to fuel the best companies in Utah and the Mountain West by providing smart capital, a connected community and expert guidance. Since raising its first fund in 2008, Kickstart has invested in more than 100 companies. For more information, visit http://www.kickstartseedfund.com
SOURCE RAGS
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