Miami-based Unybrands will double its employee headcount and acquire brands that sell their goods on platforms like Amazon.com and Shopify after raising $300 million in growth capital from Crayhill Capital Management.
The e-commerce business will accelerate its acquisitions in the U.S. and Europe after securing that capital, the company reported in a news release. Unybrands expects to purchase more than 20 companies in 2021, with a focus on brands that operate in eight key categories: personal care, pet care, household products, juvenile and baby, sports and fitness, garden and outdoor, lifestyle and arts, and supplements.
"Our acquisition strategy remains very focused on high-quality brands with significant growth potential," said Unybrands co-founder and CEO Ulrich Kratz. "I am excited that we'll be able to provide even more founder-friendly exit opportunities to successful FBA [fulfillment by Amazon] entrepreneurs faster, and also offer better and more products quicker to our customers on and off Amazon."
The $300 million raise follows Unybrands' $25 million seed capital round, which closed in February.
Unbrands aims to purchase and build online brands with businesses that do not have the capital or operational abilities to adequately scale and keep up with demand.
After it buys the business, the company takes over operations to expand the venture to new markets, product lines and platforms. It also provides exit opportunities, including cash-upfront deals and long-term partnerships to entrepreneurs who want to stay involved in the enterprise.
Unybrands currently has 25 full-time employees across its offices in Miami, Europe and Asia. The startup was co-founded by CEO Kratz, a former Goldman Sachs and Barclays executive; former WeWork COO Eugen Miropolski; and DIA Management Managing Director Christian Harnischfeger.
July has been a news-making month for South Florida startup fundings.
Multiple startups announced significant funding rounds in recent weeks, including Miami-based Marco Financial's $82 million seed financing round and South Miami-based Lula's $18 million Series A financing, backed by notable investors such as Founders Fund, Florida Funders and SoftBank.
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