PITTSBURGH, PA, Robotics company that makes high-tech baby gear, today announced a second round of institutional funding led by Castanea Partners with participation from existing investor Bain Capital Ventures.
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4moms, the robotics company that makes high-tech baby gear, today announced a second round of institutional funding led by Castanea Partners with participation from existing investor Bain Capital Ventures. 4moms will use the funding to accelerate company growth with an emphasis on new product development. As part of the investment, Robert Smith, Managing Partner at Castanea, will join the 4moms board of directors.
'4moms is a world leader at developing consumer robots that solve real problems for families,' said Robert Daley, CEO of 4moms. 'This investment allows us to continue our focus on new product development.'
'4moms represents a great opportunity given our investment and operating experience in branded consumer products,' said Robert Smith. 'The company is a category leader with an innovative and differentiated approach in the baby products and gear space which is enthusiastically embraced by retailers and customers alike. We really look forward to working closely with the 4moms team and our partners at Bain Capital Ventures to support the company's continuing growth.'
Scott Friend, Managing Director of Bain Capital Ventures, added, 'We are thrilled to continue supporting 4moms into its next chapter of growth. 4moms has completely revolutionized the category of consumer products, and it is a reflection of the quality of this business and management team to have attracted a world-class consumer-focused private equity investment firm like Castanea to the team. We couldn't be more excited for what is ahead for 4moms.'
4moms has redefined the $8.9 billion juvenile products industry through its use of advanced robotics technology. The result is dramatically better baby gear, including the 4moms origami, the world's only power-folding stroller; the 4moms mamaRoo infant seat that replicates the bouncing and swaying motions parents make when soothing their babies; and the 4moms breeze playard that opens or closes in one simple step.
4moms products are sold in more than 2,000 retail locations in the United States, with distribution in 52 countries. The company continues to experience dramatic growth. It was recently ranked No. 591 on the Inc. 5000 with $30 million of revenue in 2013.
For more information, please visit www.4moms.com
) is a robotics company that has been shaking up the juvenile products industry since 2006. Employing industrial designers, robotics engineers and experts in rapid prototyping, 3D printing and open workflow, 4moms uses advanced robotics to power baby gear that hasn't changed in decades. The result is dramatically better baby products, including the 4moms mamaRoo infant seat, 4moms origami power-folding stroller and 4moms breeze playard. Based in Pittsburgh, Penn., 4moms has won the prestigious Red Dot award twice for outstanding product design and has been recognized by Inc. magazine as one of the fastest-growing private companies in the U.S. for each of the past 4 years. In 2013 the company won the Ernst and Young Entrepreneur of the Year. Internationally, 4moms products are sold in more than 52 countries including the UK, Australia, Spain, Canada and Mexico.
Castanea Partners is a private equity firm founded by operating executives and private equity veterans. Castanea invests between $15M to $75M of equity in companies within specifically targeted industry sectors where the firm has proven investment and operating expertise. Castanea is principally focused on investing in dynamic consumer brands and marketing services companies that enable such brands to connect with their customers. More information about Castanea Partners is available at www.castaneapartners.com.
About Bain Capital Ventures
Bain Capital Ventures is the venture and growth affiliate of Bain Capital, a global alternative assets platform with over $75 billion in assets under management and a long tradition of investing in specialty retail concepts such as Bright Horizons, Burlington Coat Factory, Gymboree and Toys R Us. Bain Capital Ventures invests from seed-stage through growth equity in companies focused on revolutionary technologies across a range of industries. Since 2000, Bain Capital Ventures has helped steer many ideas to success and fueled growth by working in partnership with management teams, pairing talented and passionate entrepreneurs with industry experts, opening doors to customers, and collaborating on long-term strategy. Bain Capital Ventures has offices in Boston, New York and Palo Alto. For more information, please visit www.baincapitalventures.com or follow us at @BainCapVC.