Clerisy, a new growth equity investment firm targeting consumer and techsumer companies, announced that it has made its inaugural investment in Dormify, an e-commerce platform focused on dorm room and home décor for Gen Z.
Co-founded by former L Catterton Partner Lisa Myers and Gilt and Glamsquad co-founder Alexandra Wilkis Wilson, Clerisy closed the first investment round in the fund in October 2020. Terms of the Dormify investment were not disclosed.
“Roughly two million students head off to college each year in the U.S., and we’ve seen Gen Zers enthusiastically invest in putting their individual stamp on their living spaces, even during the pandemic,” said Wilson, co-founder and managing partner of Clerisy. “Dormify is uniquely positioned to benefit from the home category’s momentum, and we see significant additional opportunity for growth in dorm and apartment furnishings and lifestyle. We’re extremely pleased to leverage our collective experience, our investors and our deep bench of diverse experts to support the company to accelerate growth and scale.”
The firm’s name is derived from the word “clerisy,” meaning a group of learned, collaborative, innovative people. The name reflects the 20-plus years of knowledge and the global perspective, the founders said.
“We’re committed to delivering superior investment returns by partnering closely with talented entrepreneurs, like Amanda Zuckerman, who are innovating to solve problems and meet the evolving needs of consumers,” Myers added. “We understand how to help companies like Dormify expand their total addressable market, employ transformative technology, optimize their supply chains, leverage different channels of distribution and create dynamic branding strategies that engage key demographics.”
Launched in 2013, Dormify is a resource for college lifestyle and small space home décor. Sharing a similar consumer and ethos, American Eagle Outfitters Inc. (AEO) led a $3.45 million Series A investment round in 2018 to propel Dormify’s growth and establish a strategic partnership for home and apartment décor and accessories to complement its highly successful apparel business.
“We’re thrilled to have Clerisy’s support to accelerate our business at a time when Gen Z is increasingly focused on creating individualized and functional living spaces as a key part of their self-expression,” said Amanda Zuckerman, co-founder and chief brand officer of Dormify. “We’re committed to continue listening to what college students want and using technology to create and curate the most relevant assortment of product to inspire our consumers to design a space that looks like them and feels like home.”
