Lick Home announces successful £3m raise
Lick Home, the direct-to-consumer home decor brand, launched during lockdown, announced today it has raised £3m in fundraising. The raise will support the brand’s plans to stir up the home interior market.
The round is led by Felix Capital, a digital-lifestyle focused venture capital firm which has previously backed global digital lifestyle platforms such as Farfetch, Peloton, goop and Deliveroo.
Having launched the day the UK was put into lockdown and despite the ongoing global pandemic and ensuing economic uncertainties, Lick Home has already had a significant impact on the industry and was able to achieve a fast successful fundraising process.
With the nation now spending more time at home than ever before, particularly with remote working increasingly prevalent, people have inevitably turned their attention to their interiors.
The UK home decor market is growing at a faster rate than other home retail markets, as people look for affordable ways to be uplifted by colour and pattern in their own spaces, using their walls as an outlet for self-expression.
This is further supported by recent stamp duty changes in the UK aimed at revitalising the property market, resulting in greater potential spend on home improvements and renovations.
The capital injection will accelerate the launch of new verticals to support Lick Home’s position as a design and decorating destination, fueling their expansion into Europe.
UK-based Lick Home was co-founded in March 2020 by ex-Airtasker VP International Lucas London and his former-colleague Sam Bradley.
Speaking of the investment London said: “Despite launching only a few months ago, we have ambitious plans that will continue to have an impact on the industry. The fantastic feedback from customers around our innovative products and modern brand positioning tells us that we’re already changing at-home DIY for the better. The support from the great team at Felix Capital will allow us to accelerate our growth, expand our product portfolio and reach new markets, helping us to achieve our goal of completely revolutionising the category. These developments present not only an exciting time for Lick Home, but the category in general.”
Antoine Nussenbaum, co-founder at Felix Capital said: “The home decor universe is a massive lifestyle category where we have been observing significant changes in behaviours, all accelerated by the current Covid situation. Customers are putting much more attention and focus into where they live, and see this process as a way to express their creativity. In addition, globally, we have all had to spend a significant amount more time working and living in our homes in 2020. As such, we are placing much higher expectations when it comes to the experience, keen to reduce all the pain points unsolved by traditional retailers. The same way we take care of our physical or mental health — making Home our happy place has now become a key wellness focus. With Lick Home, Lucas and Sam have a unique opportunity to build an exciting brand in home decor, much more relevant to today’s consumer behaviour. We are excited to have won the team’s trust and to come on board this journey.”