Summersalt, the women’s apparel company co-founded by WashU alum Lori Coulter, has raised $17.3 million in Series B financing.
The St. Louis Business Journal reports that Salt Lake City-based Mercato Partners led the financing. Other investors include Cultivation Twain Seed Fund, Lewis & Clark Ventures, Revolution’s Rise of the Rest Seed Fund, Victress Capital and Founders Fund.
The funding round brings Summersalt’s total capital raised to $26 million.
Coulter, who is the company’s CEO and president, co-founded Summersalt in May 2017 with Reshma Chattaram Chamberlin. Chamberlin is Summersalt’s chief brand and digital officer.
The company initially sold swimwear but in late 2018 began rolling out other kinds of apparel. According to the Business Journal article, Coulter said the plan was always for the company to extend beyond swimwear to become a travel and lifestyle brand.
The company plans to use this latest funding round to expand its travel apparel and accessories offerings and to continue to grow The Forecast, a travel platform it launched in December 2018. That site is designed to foster an online community of like-minded women interested in travel and style.
Summersalt is among St. Louis’ fastest-growing startups. The company currently has 38 employees and expects to double that number by the end of this year.