[credit provider=”KiwiCrate” url=”http://www.kiwicrate.com”]
We first wrote about KiwiCrate in July as one of 20 hot Silicon Valley startups to watch. Venture capitalists seem to agree because they just doubled down on their KiwiCrate investments. Three months after its $2 million seed round, the arts and crafts subscription company has raised $5 million more.
The Series A financing comes entirely from existing investors. Comcast Ventures led the financing, and its managing director Michael Yang is joining the Board of Directors. Participating investors include First Round Capital, Mayfield Fund, Felicis Ventures, Forerunner Ventures, Consigliere Brand Capital, Uj Ventures and 500 Startups.
“As an investor and as a father, I believe the company is solving a real problem for busy parents,” says Yang. “We believe this opportunity is even bigger than we initially thought, so we jumped at the opportunity to lead the round.”
First Round Capital’s Josh Kopelman says KiwiCrate is growing much faster than most other e-commerce companies he’s seen and invested in.
Parents can subscribe to KiwiCrate for $19.95 per month, $59 for three months, $110 for six months, or $220 for the year. Every month, a new fun kid’s project, like “Stompy Dinosaur Feet” or “Dig into Fossils,” is sent with all of the materials and instructions to parents. It says exactly what the child will learn from the project, and how much parental guidance it will require to complete.
Cofounder Sandra Lin launched the company this past summer. She has two young children came up with the idea for KiwiCrate while planning activities for her kids and their friends.
“I started to do play dates and potluck parties to share my arts and crafts ideas with other parents. One of them pulled me aside and said, ‘You know, you are really good at this and you have passion for it.’ So I looked into turning it into a business,” says Lin.
KiwiCrate will use the money to fuel its growth and hopefully become the kid’s creative company of the digital age.