The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
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The increasing number of retailers and manufacturers willing to get on board with the new concept, and the sales growth rate so far suggest it’s a risk worth taking, particularly in the current climate. “People are seeking comfort and security of home and community as a physical and an emotional space,” says Baldwin. “If you look at ShopNBC and the space in which it operates, you have an interesting convergence of easy to access home-based retail channels. Blend that with what you’re seeing in consumer behavior now, and the time is right.”