US-based consumer luxury brand SENREVE has raised $16.75m in a Series A funding round led by Norwest Venture Partners.
The latest funding increases the company’s total capital to more than $23m in three years. It is expected to be used to expand its product offering and grow its geographic presence.
The company also plans to establish long-term partnerships and venture into new brick-and-mortar retail.
SENREVE CEO and co-founder Coral Chung said: “We focus on authentic brand storytelling, creating beautiful and luxurious products, and engaging with customer feedback and data.”
SENREVE COO and co-founder Wendy Wen said: “We look forward to partnering with Norwest to scale our business into an iconic global luxury brand which has always been my dream from the beginning.”
Norwest has supported several consumer brands, including Jet.com, Kendra Scott, Casper and more.
The company is also focused on supporting female founders with companies such as Minted and Madison Reed.
PitchBook research has revealed female-founded start-up companies receive only 2.2% of the total capital invested by the US venture capital firms.
Norwest general partner Sonya Brown said: “In a world where direct-to-consumer channels have become increasingly crowded, SENREVE has been extremely savvy about how they introduce themselves digitally.”
Headquartered in San Francisco, SENREVE’s products are made in Florence, Italy, and are shipped to more than 200 countries.
The company has reported more than 10,000 orders waitlisted or pre-ordered for its products. The brand became popular because of its signature marquee bag, the Maestra.