Lighter Capital provides a second round of non-dilutive financing to Beachly
Beachly is riding a wave of success thanks to funding by Lighter Capital. By scaling their product offering and forging a partnership with SeaTrees to restore ocean ecosystems, Beachly subscribers look great and feel good too.
Oceanside, CA United States
Apparel & Fashion
Recent VC Funding:
Recent Lighter Capital Funding:
USD $1M Loan, July 2021
Founded in 2016, Beachly is a subscription service that delivers beach-inspired apparel and accessories to members quarterly making every day a beach day. With initial non-dilutive funding provided by Lighter Capital in 2019, Beachly has made impressive strides by expanding its product offering to include women’s and beauty, a $250B+ industry in the US.
By investing in a sophisticated customer data platform, Beachly’s business has soared. Using real time data and customer feedback, it was able to streamline inventory, increase sales, and develop partnerships with brands around the world.
Beachly’s direct-to-consumer distribution solution and brand licensing model reduces overall costs to allow member fees to stay low and to give back to SeaTrees, a nonprofit restoring oceans. Additionally, Beachly is a marketing platform for numerous beach-inspired brands by providing a coastal lifestyle to beach enthusiasts all over the world.
Lighter Capital’s funding helped fuel Beachly’s impressive growth without the company having to give up equity or control.
Beachly’s Take Off in 2016
In August 2016, Kevin Tighe, along with help from co-founder and professional surfer Mark Healey, launched Beachly, the first subscription-based retailer of beach-inspired apparel and accessories. Each quarter, they deliver curated packages of beach-inspired apparel and accessories from carefully selected brands, as well as their own brands directly to members’ doorsteps. These boxes include products from well-known brands such as Billabong and Vera Bradley, as well as the top emerging brands from Hawaii, California, Bali and beyond. Additionally, a portion of the proceeds from each box supports SeaTrees, a non-profit organization committed to restoring coastal ecosystems.
How it’s Done
Beachly’s business model disrupts the supply chain by cutting out the middleman, allowing for members to save big, while getting high quality, eco-friendly products. Members pay $99 quarterly (or annually $85 per box), for a box of 6-8 items valued at over $250 retail. Beachly prides itself on not only saving members time and money, but also providing them with an unmatched experience with the help of marketing data. The company implements learning algorithms to analyze customer feedback, allowing them to better curate the products and predict future inventory needs. This system allows the platform to improve as it scales, delivering better value to customers, and more efficiency for the company.
Beachly’s coastal-inspired subscription boxes have been a hit. High demand led them to launch women’s and beauty subscriptions. The short timeframe between Beachly’s additional subscription box launches indicates growing traction of their products and services and member retention. Future plans are focused on building a portfolio of subscription and DTC brands catered to a variety of outdoor and active lifestyles.
Getting Started with Lighter Capital
Lighter Capital funds companies through a revenue-based financing solution that scales with a business’ growth, allowing entrepreneurs to focus on their company’s development without giving up equity, personal guarantees, or board seats.
The funding from Lighter Capital allowed Beachly to expand its business model. Starting out with only a men’s subscription box in 2016, the company now offers a women’s and a beauty subscription box.
Beachly is a subscription service that delivers beach-inspired apparel and accessories to members 4 times per year (once every season). A portion of the proceeds from each box supports SeaTrees, a non-profit organization committed to restoring coastal ecosystems.
“As a funding partner, Lighter Capital provided Beachly with the funds to scale our business without giving up equity.”
CEO at Beachly