Why We Invested · Craft Ventures
Product
Pickle operates a peer-to-peer rental marketplace for renting high-quality clothing and accessories.
Pickle is a peer-to-peer rental marketplace that makes it easy and affordable for people to rent high-quality clothing and accessories from other people.
Pickle provides social and interactive features including user profiles, outfit photos, wish lists, and listing sharing.
The product is interactive and social, allowing users to create their own profile pages, post pictures wearing their favorite outfits, generate wish lists, and share listings and outfit suggestions with others in their community.
Pickle enables same-day rentals by matching renters with owners in close physical proximity.
Because Pickle tries to match renters with owners who live within a close radius, the company facilitates same-day rentals, which is a magical experience (and incredibly valuable for procrastinators who might be in a pickle!).
Traction
Pickle demonstrated strong early traction, growing volumes, loyal customers, and social media buzz on under $400k in prior capital.
Pickle’s early traction was particularly impressive for a company that had previously raised less than $400k of outside capital. We saw growing volumes, loyal customers, and lots of social media buzz.
Business model
Pickle enables individuals to monetize their idle clothing assets.
Pickle creates the perfect opportunity for people to monetize their idle clothing.
Investment context
Craft co-led Pickle's $8 million seed funding round.
Craft is excited to co-lead Pickle’s $8 million seed round.
What founders can learn
- The traction evidence that carried weight: Craft Ventures wrote that Pickle demonstrated strong early traction, growing volumes, loyal customers, and social media buzz on under $400k in prior capital.
- How the model was assessed: Craft Ventures wrote that Pickle enables individuals to monetize their idle clothing assets.
Source and provenance
Why We Invested published by Craft Ventures on craftventures.com (first-party source). Read the original
