Blitsy, the Chicago e-commerce startup that allows people to buy arts and craft supplies, announced Monday that it has raised a $6.2 million Series B.
The new funding, led by German media group Hubert Burda Media–with participation from existing investors Greycroft Partners, Data Point Capital and Chicago Ventures–will help Blitsy continue to expand worldwide, the company said Monday.
Blitsy raised a $3.6 million Series A back in May 2015.
Hubert Burda Media is one of Germany’s largest media companies, controlling over 400 print and digital publications, including the German editions of Elle, InStyle and Playboy. While print magazines were the foundation of Hubert Burda Media, digital now accounts for half of the media group’s $3 billion in annual revenue, according to Forbes.
Its BurdaStyle portfolio is a collection of publications and brands aimed at women, and the company says it’s the “largest media provider in Germany in the areas of fashion and entertainment.”
Given the media giant’s interest in digital and women-focused properties, the Blitsy investment makes sense, and Martin Weiss, who’s responsible for all M&A business at Burda, said the arts and crafts market has “plenty of untapped potential.”
“With decades of experience in fashion and creativity, Burda is an ideal partner to support Blitsy’s international growth,” Weiss said in a statement. “We were won over by its business model, technology and its experienced and dedicated team.”
Launched in 2011, Blitsy sells in more than 70 countries across the world. The startup has been one of Chicago’s fastest growing startups and a hit with crafters looking to buy discount supplies. Blitsy boasts that it has a customer repurchase rate approaching 90 percent.
“Crafting is part of Burda’s DNA,” Blitsy CEO Ross Petersen said. “We are impressed that the creative magazine Burda Style inspires millions of women around the world, and they know our target audience inside and out. We are thrilled to partner with a world-class investor who understands the importance of digital expansion.”
Images courtesy of Blitsy