Since July 11, 2017, Brandless has been providing well-made products at an affordable price, while sticking to their mission of “quality, transparency and community-driven values.” Did I mention low prices?
Often described as a “digital Trader Joe’s,” Brandless is changing up the way products are delivered to customers and as a result, slashing prices- to $3 to be exact. That’s right- there are no long lines or shipping costs and consumers don’t even have to waste time checking prices because every product is $3. “It just gives the customer one less thing to think about,” says CEO Tina Sharkey.
Tailoring their products and experience to the consumer, the e-commerce startup currently sells approximately 300 items including food, household supplies, beauty and personal care items, and more.
After almost 13 months post-launch, Brandless has raised $240 million in a Series C round. According to Bloomberg, the valuation of the company exceeds $500 million.
The new round of funding was led by SoftBank’s Vision Fund, including participation from NEA, Redpoint Ventures, GV, and Sherpa Capital (PitchBook).
Even though the San Francisco-based online retailer has some stiff competition (Amazon), the startup exemplifies the momentum of private-label brand growth in the grocery industry. By the end of the year, Brandless will offer 400 items to consumers and everyone will be closely watching how the startup continues to reshape the future of retail. How is your company shaping the future?