Dallas startup Mizzen+Main raised a $3 million Series B round of funding, adding more big name investors to its lineup.
The round, announced Thursday, was led by Ben Nash, CEO of PCS Wireless; NFL star Thomas Morstead, who plays for the New Orleans Saints; George Couri and Bruce Kalmick of Triple 8 Management; Vegas Tech Fund; and Brian Tochman of Dallas-based MRCA Investment. Other private investors also participated.
The new funding will help the American menswear brand, which is known for its sweat resistant dress shirts, build its inventory, hire additional employees, invest in sales and marketing initiatives and create a cash reserve for future opportunities.
“We’ve been growing 400 to 500 percent year-on-year since we started,” said CEO and founder Kevin Lavelle, adding that the company surpassed a million dollars in revenue a few years ago. “That (growth) is slated to continue this year. We are already ahead of plan after Q1.”
Mizzen+Main’s latest round of funding, which closed in February, follows a $1.2 million Series A round led by former Astor & Black founder and serial entrepreneur David Schottenstein. That round also included from Vegas Tech Fund, the creation of Zappos CEO Tony Hsieh, and multiple Silicon Valley and Dallas investors such as Hunter Hunt, Bobby Lyle and Chris Kleinert. About 50 percent of the Series B round was provided by repeat investors.
It also comes after Houston Texans football star J.J. Watt was announced as the face of the brand, just as Mizzen+Main launched a number of new products.
The startup, founded in 2012, is headquartered in Dallas’ Design District and comprises 16 full-time employees. Its office also serves a showroom. The company’s retail partners include Stanley Korshak and St. Bernards in Dallas. Its products, which include polo shirts, pullovers, denim and sweaters, are also stocked in more than 200 retailers across the country.
Mizzen+Main prides itself on its U.S.-based manufacturing process. The company is aiming to hit 400 percent growth this year and continue to grow its customer base.
“Over the long term, we want to make Mizzen+Main the next great American brand,” Lavelle said, adding that he has big goals for the future. “Ultimately, it’s make Mizzen+Main a household name.”