Neighbor Closes Series A Investment, Well-Positioned to Bring More Sustainable, High-Quality Consumer Offerings to Fast-Growing Outdoor Furniture Category

Top quality Outdoor Home furnishings Brand Disrupts the Marketplace with Modern Patterns, Exclusive Purchaser Support and Strategic Distribution Associates

PHOENIX, March 22, 2022–(Small business WIRE)–Phoenix-based outdoor home furniture model, Neighbor, announces now the closing of a Sequence A funding round from Strand Equity (“Strand”). The funding spherical will assistance new product or service enhancement, workforce expansion, and advertising initiatives. The multi-billion-greenback outside home furnishings industry has developed drastically with increased client willingness to invest in top quality pieces whilst paying out extra time at dwelling, as confirmed obvious all through the pandemic. Neighbor determined the chance to provide a fashionable solution to the ease and comfort of outdoor dwelling with thoughtfully decided on, sustainable materials and timeless patterns.

Started in 2020 by Tuft and Needle veterans, Nick Arambula, Mike Fretto, and Chris Lee, the pro team sought to convey a exclusive perspective of sophistication, style and exclusive purchaser service to the out of doors household furniture class by leveraging their good results as executives at Tuft and Needle, one of the nation’s leading immediate-to-consumer rest products firms and the initial disruptor in that marketplace. Nick, Mike and Chris regarded a very similar opportunity to disrupt the hugely fragmented outside home furniture classification in the exact same manner Tuft and Needle was ready to scale profitably. In just the 1st 12 months, Neighbor grew swiftly, leaning on very simple principles of profitability, workable scale, and partnership, securing e-commerce distribution associates like Crate & Barrel. With no intention to slow down, Neighbor’s future programs include expanding their highly sought-soon after Haven assortment, generating new, one particular-of-a-variety outdoor collections, and the extension into additional outside merchandise in 2023.

What’s special about Neighbor outside home furniture goes beyond quality components and fashionable design. Using an indoor solution to outdoor furniture, the parts are created with information like weather conditions-evidence hardware, textured, effortless to cleanse fabrics, and patent-pending modularity. This features consumers the possibility to expand and re-prepare their lounge setups as their family members and houses alter. Neighbor is also dedicated to sustainability practices this sort of as the use of Forest Stewardship Council (“FSC”) qualified teak wooden, and lumber from recycled milk jugs in partnership with Polywood. With the new closing of their funding spherical, Neighbor will go on giving large-excellent out of doors home furniture although respecting the earth and setting.

“We’re exceptionally fired up to husband or wife with Strand Fairness and deliver them together on our journey to build Neighbor,” reported Nick Arambula, CEO of Neighbor. “It was apparent from our 1st conversation that they are enthusiastic about our solution to model and layout, but more importantly, enjoy our desire to establish a successful business enterprise rooted in generating an impeccable buyer knowledge.”

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“Neighbor is leading the cost in the out of doors home furniture business by furnishing high-quality and aesthetically driven out of doors decor choices as buyers are investing extensively in their outside spaces,” stated Kevin Chen, Associate at Strand Fairness. “Nick, Mike and Chris are field veterans and bring complementary talent sets that will allow Neighbor to take advantage of the exclusive sector possibility that lies in advance of them. We have been impressed by the team’s observe report and eyesight of setting up an enduring brand name that is equally significant-progress and profitable, attributes we come across progressively uncommon in today’s ‘growth-at-all-costs’ environment.”

For far more facts on Neighbor and their assortment of solutions, be sure to check out www.hineighbor.com.

ABOUT NEIGHBOR

Started in 2020 by Nick Arambula, Mike Fretto, and Chris Lee, Neighbor aims to make a seamless transition to underutilized square footage outdoors with home furniture which is intended with indoor sophistication and crafted to stand up to the forces of mother nature. Their signature collection is manufactured of sustainably harvested good teak wood, temperature-resistant and rapidly-drying foam cushions, and life-evidence Sunbrella® upholstery that will not fade. Neighbor’s furnishings is built to in shape any space its modular technique enables any configuration. For a lot more info, go to www.hineighbor.com.

ABOUT STRAND Fairness

Strand Equity is a Los Angeles-based growth equity company investing in the future generation of legendary customer brands and expert services. Strand is led by a staff of knowledgeable and productive buyers and business people. With a lasting capital foundation, Strand maintains a versatile tactic to composition and partnership, enabling dynamic business people and administration groups to accelerate advancement and develop tough enterprises. Latest and recognized investments include Youth To The People today, Oatly, Studio McGee, True Superior Foods, Bai Makes, Diggs, HUM Diet and Monos, among other folks. For a lot more information, stop by https://strandequity.com.

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Contacts

Alicia O’Connell
[email protected]