(Los Angeles, California) – There is still VC money out there for subscription ecommerce – when the growth and engagement metrics are healthy enough that is. Los Angeles startup ClubW proved as much by closing a $3.1 million Series A round led by Crosscut Ventures with participation from Guild Capital, Siemer Ventures, Adam Goldenberg, Csaba Konkoly, Brener International Group, 500 Startups, and its accelerator Amplify. Crosscut venture partner and Intelligent Beauty co-founder and CEO Adam Goldenberg will join ClubW’s board of directors.
“Ecommerce is getting a bad wrap in the VC and investor community right now, but were quite bullish on the category,” Amplify Executive Director Jeff Solomon says. “On the one hand ecommerce needs money to feed the customer acquisition engine. On the other hand its one of those categories that can weather funding storms because companies have cashflow. We’re gonna double down on the space this year.”