Kicking off 2021 with $50M capital raise + acquisition of Gravity
Today, we’re proud to announce two exciting updates for Win: raising $50M in capital from Assembled Brands and funds managed by Oaktree Capital Management, L.P. (“Oaktree”), and the acquisition of weighted blanket pioneer, Gravity.
$50M capital raise
“Assembled Brands supported our early acquisitions of QALO, as well as the working capital needs for Homesick, and has been instrumental in our ability to scale,” said Eric Satler, President at Win Brands Group. “They are not only the leading lender to the consumer space, but also a trusted, strategic partner. This funding, along with Oaktree, is the logical next step in our partnership to create the largest community of independent brands."
“What excited our investment committee about Win is the power and scalability of its Shared Services model,” said Michael Lipkin, President and COO at Assembled Brands. “The Win team has a great eye for identifying brilliant brands that are ready to take the next step, and a proven track record of driving omnichannel growth at scale.”
Category-leading addition to the Win lineup
The acquisition of Gravity adds yet another category-leading brand to the Win portfolio, growing our footprint in the home and gifting vertical, as well as marking our first foray into the wellness space, as the global sleep economy addressable market surpasses $423B.
After the organic success of Gravity’s flagship weighted blanket, the brand has since expanded its range to include weighted robes, sleep masks, and even a limited edition partnership with Pizza Hut, capturing the attention of high-profile fans like Chrissy Teigen, Jimmy Fallon, and Jonathan Van Ness along the way.
“With the acquisition of Gravity, we continue to extend our comprehensive expertise to nurture a new generation of businesses,” said Kyle Widrick, co-founder and CEO at Win Brands Group. “Gravity’s passionate leadership, quality product, and tight-knit customer community are exactly what we look for, and we can’t wait to get started working alongside their team.”
“Working with Win was an opportunity we couldn’t pass up,” said Mike Grillo, co-founder and CEO of Gravity. “We’re incredibly proud of what we’ve achieved: developing great products, building a passionate fanbase, and creating and leading an entire category. But the weight and expertise of Win offers us the opportunity to do so much more, and benefit in a way that is only possible as part of a community. We’re thrilled to join the Win family and embark on a new stage of evolution for Gravity.”