, the Chicago-based online DIY destination, announced this morning it has raised $6.2 million in a series B round led by German media group Hubert Burda Media.
Hubert Burda Media is one of Germany’s largest media groups with a portfolio of over 400 print and digital brands worldwide including National Geographic, Elle, Esquire and Playboy. The funding will be used to grow Blitsy into a global player in the arts and crafts retail space.
“Arts and crafts is an exciting market worldwide, with plenty of untapped potential,” said Martin Weiss, responsible for M&A business at Burda, in a statement. “With decades of experience in fashion and creativity, Burda is an ideal partner to support Blitsy’s international growth. We were won over by its business model, technology and its experienced and dedicated team.”
Founded in 2011, Blitsy presents how-to articles and instructional videos for DIY projects in a number of arts and crafts categories alongside options to buy craft supplies and tools needed to complete them. The site also features live streaming content to spark inspiration for future projects.
With a customer repurchase rate of nearly 90 percent, and sales to crafters in more than 70 countries, an international expansion of its efforts is a logical next step for the DIY hub. And Burda — which has major media operations in 19 markets across Europe, the United States and Asia — is a natural partner for the process.
“Crafting is part of Burda’s DNA,” said Blitsy co-founder and CEO Ross Petersen in a statement. “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.”
Burda operates in a total of 19 markets, primarily in Germany but also in Europe, the United States and Asia.
Featured in last year’s Built In Chicago 50 startups to watch, this last round of funding brings Blitsy over the $10 million mark. The round was joined by a number of Blitsy’s existing investors including Greycroft Partners, Data Point Capital and Chicago Ventures.
Images via Blitsy.
Know of a Chicago startup we should be covering? Send us an email via [email protected].