The baby product registry Babylist has raised $40 million in Series C funding, which the company says it will use to expand on several fronts.
The Oakland, California firm announced the funding in a news release on Thursday (Nov. 4), saying it will use it to build on “its ability to serve the baby’s entire community — not just the parents, but the family and friends that together plan, prepare and shop for the arrival of a child.”
Babylist says it will also open new showrooms and explore international expansion. This round, which brings the company’s funding to $50 million, will also see Sonya Brown, Norwest General partner, join its board of directors.
Norwest led the funding round, along with Halogen Ventures, 500 Global, Next Play Capital and Marcy Venture Partners.
“We’ve successfully operated in an overlooked, yet massive, category serving an unmet need for millions of new parents, their extended families and their circles of friends,” said Natalie Gordon, founder and CEO of Babylist, in the press release. “We’re proud of the significant market share we’ve captured by scaling Babylist profitably. The arrival of a new child is a life stage that inspires a distinct set of consumer behaviors, with unique economics specific to each baby and their community.”
With the help of what it describes as “robust purchase data and expert-led guidance,” Babylist helps parents, family and friends buy products at an important stage in their lives. It’s a vast $67 billion market, which Babylist says can be “overwhelming” even for motivated buyers. The company saw eight million people use its platform last year, and is on track to reach $250 million in revenue this year.
The company says its business model focuses on providing information and products to “extremely high-intent, child-focused consumers,” and supports direct purchases from its site as well as affiliated retailers.
The announcement comes two days after Uber Eats said it was adding a new category for babies and children.
The company is working with Bed Bath & Beyond and buybuy BABY on a baby and kids vertical within the Uber Eats app, delivering baby and home products from almost 120 buybuy BABY and more than 750 Bed Bath & Beyond stores.