CustomInk raises USD40 million in funding from Revolution Growth
Custom apparel maker CustomInk raised USD40 million from Revolution Growth. The new funding round would be used for the company's expansion in the next few months, according to a report published by TechCrunch.
Revolution Growth is the investment fund from Ted Leonsis, Steve Case, and Donn Davis. Leonsis was currently added to the board of CustomInk, the report said.
Launched almost 14 years ago by a group of friends who went to school together, CustomInk had grown to a company that rakes in almost USD200 million in annual revenues. Every year, it delivers over 20 million custom t-shirts and is now aiming for more growth, TechCrunch said.
With the new funding from Revolution Growth, CustomInk would be expanding its core business. Presently, it has three offices in the US located in Northern Virgina, Charlottesville, and Nevada. The custom apparel company planned to expand all three of its facilities and add a new office in Dallas, the report stated.