Saysh will use the new funds to scale its branded e-commerce, wholesale distribution, and community-based retail footprint, which the founders see as a huge growth opportunity. The investment will help offer an expanded product and launch several new activity-specific sneakers. Through the brand’s existing platform, it has been able to successfully test various ideas and concepts to further their product portfolio, the company said in a press release.
In addition, Springbank Collective, an early stage investor in working women and their family infrastructure, has brought together a team of valuable angel investors to support Saish through a special purpose vehicle. Participants included Anne-Marie Slater, an internationally renowned gender and policy expert; Carin Hempel, CEO of New York Road Runners; And Sabia Wade, founder of The Black Dollar and Black Maternal Health Advocate. An official advisor to Springbank Collective, Allison is passionate about their mission for a more equal future.
The US-based community-centered lifestyle brand Saysh, co-founded by Olympian Allison Felix and her brother Wes Felix, has announced the closure of its Series A round at $ 8 million, led by expert consumer fund Iris and Gap’s Performance Lifestyle brand Athlete. Other additional investors in the round include Redpoint Ventures and Springbank Collective.
Redpoint’s 50 percent female start-up team, an industry venture capitalist who has successfully invested in companies like Netflix and Sonos, has also joined the funding round. A long-time sponsored athlete, Allison has decided to leave a sportswear giant after trying to reduce her salary during pregnancy with her first child. Being forced to choose between being a mother and being a professional athlete, Sesh was born a brand that represents the power to create hope, acceptance and change. Saysh continues to advocate for improved maternity leave for athletes and working mothers, as well as better access to healthcare for black mothers.
Saish’s vision is a future where inequality is undermined by women’s creativity and athleticism. The funding rounds in this series, as well as their recently announced first-of-its-kind maternity return policy, further support this view.
“This is an exciting next step for the brand, and we are grateful to the partners who see the potential of Saish to help build a better future for all of us. Saysh, in its core part, celebrates women and their voices and this funding empowers us to lead in that regard. We are now more than ever, in a position to understand and meet the needs of our customers, to pay a much higher price than before, ”he said. Wes Felix, co-founder and CEO of SaishSaid in a statement.
“When we signed Alison Felix as our first sponsored athlete in 2019, we knew we wanted to work differently by supporting her as a mother, athlete and advocate. Today, we are proud to continue accelerating the growth of the Athleta brand through our investment in Saysh, as well as continuing to support Allison as an entrepreneur. ” Mary Beth Lafton, President and CEO, AthleteSaid.
Fibre2Fashion News Desk (GK)