Business is Blooming at The Bouqs Company - Closes $6 Million Series A Financing Round led by Azure Capital Partners
New funding will support global farm network expansion and fuel continued hyper-growth at thebouqs.com
VENICE, Calif., June 26, 2014-- The Bouqs Company (TheBouqs.com), a premier cut-to-order online flower delivery service, today announced it has raised $6 million to close its Series A financing. Led by Azure Capital Partners and joined by KEC Ventures, funding will be used to accelerate growth initiatives including expanding the team, offering delivery outside the US, and scaling the company's technology and infrastructure to keep pace with growing demand.
"Interest from our customers has exceeded our wildest expectations. We are growing 8-10X year-over-year largely based on organic channels such as word-of-mouth, social, and referrals," said John Tabis, CEO & Founder of TheBouqs.com. "We launched this platform to 'rearrange' the global $50B+ flower industry, and it's thrilling to see both consumers and flower farms enjoying our simpler and more elegant platform for flower delivery. This new infusion of capital and a great set of advisors will enable us to expand our operations and Bouqs deliveries to even more households and businesses in the US, and soon around the world."
Sending top grade flowers has never been easier than the company's Webby Award-nominated shopping experience at TheBouqs.com and via their iOS and Android apps. TheBouqs.com delivers high-quality, eco-friendly flowers direct to consumers and small businesses from an international network of top tier farms. Since launching in November 2012, The Bouqs Company has grown rapidly due to its efficient business model and superior shopping and customer service experience.
Bouqs, or "bouquets, simplified", are cut and shipped from a volcano in South America for a flat rate of $40 (with free international shipping to anywhere in the United States including Alaska and Hawaii) or, for $50 flat, from partner farms along the California coast via free overnight delivery. Consumers can choose from over 100 Bouqs featuring roses, lilies, hydrangea, ranunculus, sunflowers and more, all specially curated by famed floral designer Eric Buterbaugh. Since TheBouqs.com ships flowers directly from their network of farms, bypassing the lengthy supply chain of importers, brokers, wholesalers and retailers, consumers receive more, and fresher, flowers for their hard-earned dollars. For increased savings and convenience, the Bouqs' Concierge Service offers three variations of pre-scheduled deliveries with discounts up to 25%, an option perfect for administrative assistants, forgetful partners, small businesses, or those that love sending gifts for no reason, Just Because.
"Having grown up on a flower farm, I was frustrated by the lack of affordable, high quality and sustainable flowers available for order," said JP Montúfar, COO & Co-Founder, TheBouqs.com. "Every day we provide fresh, fashionable, and accessibly-priced flowers sourced only from eco-friendly, sustainable farms. 21 months in, I am proud to say we are building a business that is better for both growers and consumers, and we're excited to work with our partners to scale operations to meet demand."
TheBouqs.com will expand delivery operations beyond the US as well as begin sourcing flowers from new farms and nurseries in the US and around the globe.
"In under 2 years, TheBouqs.com has made its mark on the multi-billion dollar flower industry by capturing a cult following of customers who have been looking for a fresh take on flowers," said Paul Ferris, General Partner at Azure Capital Partners. "The company's rapid growth and customer repeat purchase patterns are a testament to the huge market opportunity, customer need and, most of all, killer execution by an experienced team. We, along with the rest of the investor group, are excited to help TheBouqs.com continue its impressive growth trajectory."
Paul Ferris will be joining the company's Board of Directors. Advisors include Mich Mathews (former CMO of Microsoft), Brian Lee (Co-founder of Legalzoom.com, ShoeDazzle.com and The Honest Company), Andy Dunn (CEO & Founder of Bonobos), Jason Nazar (Co-Founder & CEO of Docstoc) and John Powers (CFO of EdgeCast and previously eHarmony). Previous investors also participating in the round include Quest Venture Partners, SG-VC, and Siemer Ventures.
About The Bouqs Company
The Bouqs Company (TheBouqs.com) is a cut-to-order online flower delivery company. Founded by John Tabis and JP Montúfar, the company launched in late 2012 to create an online flower delivery service for the global, modern consumer. TheBouqs.com offers a simple shopping and superior customer service experience, and delivers high-quality, farm-direct, eco-friendly stems with honest and direct pricing. Bouqs are grown on eco-friendly and sustainable farms located 10,000 feet above sea level on the side of a volcano situated right on the equator in South America, or on similarly high quality farms along the California coast. For more information on The Bouqs Company, please visit: www.TheBouqs.com or watch the video.
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