CreateMe begins fundraising conversations

CreateMe, an on-demand apparel manufacturer and customization platform, is in early-stage fundraising discussions for a seed raise ahead of a planned Series A, says co-CEO Campbell Myers.

‍CreateMe, an on-demand apparel manufacturer and customization platform, is in early-stage fundraising discussions for a seed raise ahead of a planned Series A, says co-CEO Campbell Myers.

Why it's the BFD: Since ushering in the Industrial Revolution, clothing production has seen little innovation, but CreateMe is trying to change that, Myers says.

By the numbers: "We are a mature business as far as a Series A," Myers says.

• CreateMe has north of $20 million in revenue and a gross margin of between 40% and 50%.
• It projects it will have a compound annual growth rate (CAGR) between 40% and 50% from 2021 to 2024, though that could increase to 65% between 2021 and 2027.
• To date, CreateMe has been financed by what is essentially a family office or fund that handles investments for him and his sisters, Myers says.

Read the full article by Richard Collings on Axios.