Satori Capital has made a USD10 million investment in The Lovesac Company.
Satori, a Dallas/Fort Worth multi-strategy investment firm committed to the principles of conscious capitalism, served as the anchor investor in the current bridge round of financing. Mistral Equity Partners, which has provided growth capital to Lovesac since 2010, also invested in this bridge round.
Lovesac is a “new economy” e-commerce furniture retailer and high-end lifestyle brand whose most popular products include modular couches (Sactionals) and durafoam bean bags (Sacs). Lovesac’s Sactionals and Sacs are flexible, durable, washable, and shippable on short notice by FedEx and UPS.
“We are delighted to partner with a company that is so beloved by its customers, so forward-thinking in its solutions, and so values-aligned with the way we conduct business,” says Satori co-founder Sunny Vanderbeck. “Lovesac is re-shaping the industry paradigm with an innovative e-commerce model, and its products are the perfect solution for new families and others seeking furniture that will adapt with their evolving needs.”
Lovesac’s CEO and founder, Shawn Nelson, is a sustainably minded visionary entrepreneur who holds numerous patents in the furniture space. He has received Ernst & Young’s “Entrepreneur of the Year Award,” and he won Richard Branson’s reality TV competition, The Rebel Billionaire. Nelson’s stated purpose for Lovesac is to “inspire mankind to buy less furniture – by investing in more of ours.”
“We are disrupting and modernising the furniture industry by providing products that are built to last a lifetime and designed to evolve,” says Nelson. “Our system allows owners to frequently reconfigure the shape and colour of their couches as their needs and environments change and to keep the washable covers looking like new, thereby eliminating the need to ever buy another couch. Along with its capital, Satori’s long-term perspective, operating expertise, and commitment to conscious capitalism will accelerate our ability to fulfil our mission.”
