Seattle-based e-commerce company Cap Hill Brands has raised over $100 million, the company confirmed to the Business Journal on Friday.
In an email, Cap Hill Brands co-founder and co-CEO Jason LeeKeenan said the company has more than 200 employees. He didn't provide any details around hiring plans or give an update on the company's value.
Cap Hill Brands acquires and operates consumer brands, helping them "fulfill their true potential," according to the company's website. The company connects acquired brands with its centralized services like marketing, product development and distribution, with the goal of providing long-term success to acquired brands.
Cap Hill Brands was founded in 2020. According to the company's website, Cap Hill Brands makes an offer within 48 hours of contacting a brand and can close in as few as four weeks. The company says on its website some brand owners leave after the acquisition and others stay on, and most deals "involve a large upfront payment and an ongoing profit-sharing plan." Its brands include the pet bathing tool Aquapaw and LilGadgets, which makes headphones for kids.
Kevin Saliba is the other co-founder and co-CEO of Cap Hill Brands. Saliba was previously the chief marketing officer at the Seattle-based e-commerce company Zulily, while LeeKeenan was a vice president there, according to their LinkedIn pages.
BlackRock led the round, while Version One Ventures, Maveron and Ascend all participated. Maveron, which has offices in Seattle and San Francisco, has invested in Zulily, eBay and Allbirds, among others.
GeekWire first reported the news regarding the funding round.
