Artisan Home Decor Brand, The Citizenry, Raises $20 Million Series B

DALLAS, June 29, 2021 /PRNewswire/ -- The Citizenry, a direct to consumer home decor brand that partners with artisans around the world, today announced it has raised $20 million in Series B funding from NextWorld Evergreen, a growth equity firm with a focus on conscious consumer brands. The capital injection will be used to accelerate The Citizenry's evolution into a whole-home, omnichannel brand.

The Citizenry is setting new standards for the home industry, proving that successful businesses can also be a catalyst for positive impact. Since closing its Series A in December 2019, The Citizenry has grown sales over 200% with repeat customers driving 45% of sales. Over the same period, it has supported over 3,000 artisan jobs, 58% of which were held by women. On average, The Citizenry pays artisan partners more than two times the Fair Trade Standard and is a member of the World Fair Trade Organization.

"To fulfill our vision for The Citizenry, we needed to build a new business model and artisan supply chain," said Rachel Bentley, Co-Founder of The Citizenry. "Carly and I wanted to create a brand that would set unprecedented standards for quality, transparency, and social responsibility in the home decor market.  We knew there was a group of discerning, global citizens that shared our values and desire to invest in quality home goods with more of a soul and story. This partnership with NextWorld Evergreen will enable development of the robust, whole-home collections our customers have asked for."

The Citizenry is known for its exceptional craftsmanship and globally-inspired aesthetic in soft goods. The Series B funds will accelerate expansion of The Citizenry's highly sought-after furniture collection, which is the most clicked segment of its website, as part of its transformation to become a whole-home destination. The Citizenry will be investing in additional sales channels, including physical retail. The Citizenry's flagship store in Soho, which opened in late 2020, serves as a model for future retail expansion.

"We are extremely proud to partner with Rachel and Carly to further their vision of building The Citizenry into a whole-home, omnichannel brand that sets new standards within the home décor industry," said Tiffany Obenchain, Partner at NextWorld Evergreen. "Our investment in The Citizenry embodies our commitment to partner with founders to build the next generation of consumer brands that drive positive social and environmental change in concert with best-in-class business results."

"We connected with NextWorld Evergreen's long-term vision and approach to building the next generation of innovative and lasting brands," said Carly Nance, Co-Founder of The Citizenry. "They bring a deep expertise in omnichannel retail and ESG. Most importantly, their guiding principles closely align with the vision we have been working to build since day one."

To learn more about The Citizenry, visit the-citizenry.com.

ABOUT THE CITIZENRY: The Citizenry is a direct to consumer, socially-conscious home decor brand. The Citizenry partners with master artisans & heritage manufacturers to create exclusive collections of home goods, crafted with the finest materials and time-tested techniques. The brand is setting new standards for transparency and social responsibility in the market – every piece is ethically crafted in fair trade environments. For more information, visit www.the-citizenry.com and follow The Citizenry on Instagram.

ABOUT NEXTWORLD EVERGREEN: NextWorld Evergreen is a San Francisco-based growth equity firm focused on conscious consumer brands. NextWorld Evergreen leverages its 100-year fund structure, deep brand expertise, and ESG frameworks to partner with founders and management teams to build the next generation of consumer companies that positively impact people and the planet while generating outsized business results. Representative investments include Credo Beauty, Van Leeuwen Ice Cream and Sambazon. NextWorld Evergreen is a part of NextWorld, an international organization that combines investments and nonprofit activities with a mission to inspire and drive action for a better world. For more information, visit www.nextworldevergreen.com and follow NextWorld Evergreen on LinkedIn.

SOURCE The Citizenry