London-based LoveCrafts is an online community for makers to interact, buy supplies, and sell designs.
With this new investment, which is one of the biggest in a London startup so far in 2017, the social network meets ecommerce site plans to further scale its operations and tech as well as launch new sites.
“It’s always been our goal to connect makers, designers and creatives across the world in a social and accessible way, and this investment will help us to do this in more markets, with greater scale and better tools,” commented LoveCrafts founder, Edward Griffith. “We are delighted that SEP, together with our current backers, share our vision for the business, and confidence in its future.”
SEP partner Stuart Paterson will be joining the board at LoveCrafts. This investment will help push the company’s expansion in Europe and Australasia, he said.
“Crafting is the world’s largest hobby. LoveCrafts has built an impressive, scalable, digital community-based platform targeting an international market worth $100 billion per annum,” he added.
“LoveCrafts has demonstrated impressive growth over the last four years,” said Highland Europe partner Laurence Garrett, “and we look forward to continuing our support for the dynamic company as it expands into new international markets and launches new crafts which will introduce a whole new group of committed users to the platform.”
The company previously raised a $20 million Series B in 2015 from Highland Europe and $7 million from Balderton in a Series A.