From deep within the Ozarks, an Arkansas startup climbed to the top of the deals mountain today.
Acumen Brands has raised a whopping $83 million to support growth of its portfolio of e-commerce companies. The company operates branded online storefronts for businesses like CountryOutfitter, Tough Weld Workwear, and Scrub Shopper. It takes advantage of knowledge of SEO, social media, marketing, business strategy, and data analytics to help retailers of cowboy boots, construction work apparel, and medical scrubs effectively sell their wares online.
The company was founded in Fayetteville, Ark. in 2009 by doctor-lawyer duo who gave up their careers to pursue entrepreneurship. When it first started out, Acumen had four employees and a 2,000-square foot warehouse. It quickly expanded and today operates out of a 50,000-square foot warehouse, employing 150 people, and using 30 Kiva Systems robots.
CEO John James told Arkansas Business that this new financing will support the move to a 200,000-square foot facility and the addition of 20 to 30 new robots. Investment firm General Atlantic led this round, following two previous $5 million rounds from local investors Dillards, Noro-Moseley Partners, BLH Venture Partners, and the Arkansas Risk Capital Matching Fund.
Acumen Brands has not yet responded to request for comment. Read the SEC filing.
Photo Credit: Acumen Brands