SSENSE, the worldwide expertise platform for style and All the pieces ElseTM, introduced as we speak it has obtained a minority funding from main funding agency Sequoia Capital, giving the corporate a post-money enterprise worth of over CAD 5 billion.
That is the primary spherical of exterior funding within the firm’s 18-year historical past. Proceeds from the transaction shall be used to additional speed up the corporate’s international progress technique. Following the transaction, Angelica Cheung, Enterprise Companion for Sequoia Capital China, will be a part of the SSENSE Board of Administrators.
Rami Atallah, Co-founder & Chief Government Officer of SSENSE stated: “SSENSE was based on the ideas of difficult conference and utilizing our platform to amplify the voices which are altering the best way we see the world. I’m grateful to be surrounded by a various, world-class workforce who continues to contribute to the continued success of SSENSE. We’ve discovered a like-minded companion who shares our perception in pushing boundaries as we advance in our subsequent levels of progress. Collectively, I’m assured we’ll strengthen the strategic, operational, and technological foundations to realize our daring aspirations.”
Neil Shen, Steward of Sequoia Capital, Founding and Managing Companion of Sequoia Capital China stated: “We’re thrilled to grow to be the primary outdoors investor and companion with SSENSE. Underneath the management of brothers Rami, Firas, and Bassel Atallah, SSENSE has emerged as one of many main on-line style platforms connecting manufacturers with Millennials and Gen Z shoppers all over the world. Sequoia is happy to help SSENSE in its continued international growth and China acceleration. The partnership represents one other stable step in our efforts in supporting the style trade’s digitalization, backing visionary founders to rework and elevate the worldwide style e-commerce expertise to a brand new degree.”
Rothschild & Co served because the unique monetary advisor to SSENSE within the transaction. Simpson Thacher & Bartlett LLP served because the authorized advisor to SSENSE.
SSENSE (pronounced [es–uhns]) is a world expertise platform working on the intersection of tradition, neighborhood, and commerce. Co-founded in 2003 by brothers Rami, Firas, and Bassel Atallah, and headquartered in Montreal, it options a mixture of established and rising luxurious manufacturers throughout womenswear, menswear, kidswear, and All the pieces ElseTM .
SSENSE has garnered vital acclaim as each an e-commerce engine and a producer of cultural content material. SSENSE generates a mean of 100 million month-to-month web page views. Roughly 80% of its viewers is between the ages of 18 to 40. It’s privately held and has achieved excessive double digit annual progress and profitability since its inception.
ABOUT SEQUOIA CHINA
The Sequoia workforce helps daring founders construct legendary firms. In partnering with Sequoia, firms profit from our unmatched neighborhood and the teachings we’ve realized over 49 years. As “The Entrepreneurs Behind the Entrepreneurs,” Sequoia China focuses on three sectors: TMT, shopper/providers and healthcare. Over the previous 16 years we’ve had the privilege of working with roughly 600 firms in China.