Pamono, a Berlin, Germany-based vintage and contemporary design marketplace, secures a mid-size seven digit investment round from Ringier, Gruner + Jahr et al.
Pamono, Europe’s fastest growing vintage and contemporary design marketplace, announced today its largest round of funding to date, securing a mid-size seven digit investment round through new and existing investors. The venture arms of leading media houses Ringier and Gruner + Jahr join current backers, including Holtzbrinck Ventures, DN Capital, and Atlantic Internet, to nurture the 2.5-year-old, Berlin-based startup to the next level of expansion and sales.
Switzerland’s Ringier Digital Ventures and Germany’s Gruner + Jahr have agreed to supply media placement and advertising in addition to cash. Cumulatively these two firms manage over 700 print, digital, radio, and television media channels across Germany, Switzerland, and beyond, enabling Pamono to further boost its brand recognition and position with relevant audiences across German-speaking Europe and beyond. Pamono intends to forge additional media partnerships to further penetrate international markets.
Since launching in 2013, Pamono has achieved rapid sales growth in Germany, Austria, Switzerland, the UK, and the US. Capitalizing on the growing market for one-of-a-kind furniture, lighting, and design accessories, Pamono has on boarded over 1.000 vendors from 23 countries—a curated mix of international galleries, shops, designers, and makers—and ships directly to customers around the globe.
Pamono co-founder and CEO Oliver Weyergraf recognized the young company’s achievements by saying, “We’ve put tremendous efforts into making it easier to buy distinctive design objects from the best dealers and makers out there. I’m gratified that the work we’ve put into our logistics strategy, our vendor portal, and our expert sourcing has positioned us to take full advantage of everything these partnerships with these powerhouses have to offer. We look forward to quickly attaining the next level of success.”
In the words of David Hug, Managing Director of Ringier Digital Ventures: “We strongly believe in the idea of Pamono’s curated marketplace, which offers a state of the art, international sales channel to local galleries, shops, and designers. The experienced team convinced us with their knowledge about the market and their passion for design. We see substantial growth potential here in Switzerland as well, which will be supported by Ringier’s media capabilities.”
Nicolas Kirschner, Managing Director of Gruner + Jahr Digital Ventures, adds: “Pamono impressed us with its very attractive, asset light business model. Its target group is aperfect fit with a relevant number of our media titles which address customers with a passion for unique, up-market furniture. We look forward to accompanying Pamono on its domestic and international growth strategy.”
Pamono is a one-of-a-kind marketplace and magazine specializing in distinctive design objects and the stories behind them. Driven by the belief that a life well lived means surrounding ourselves with beauty and soul, we source vintage and contemporary furniture, lighting, accessories, and crafts from around the globe and seamlessly deliver them right to our customer’s door. Our original stories, collections, and guides ensure users know who’s who and what’s what in design culture past and present.
About Ringier Digital Ventures AG:
Ringier Digital Ventures AG is a Ringier AG company. Established in January 2015, this venture-capital firm focuses on investments in innovative digital start-up companies, enabling them to benefit from Ringer’s substantial media coverage and the expertise of the successful companies in its network. Ringier Digital Ventures – the start-up for start-ups.
About Gruner + Jahr:
With over 500 media activities, magazines, and digital offerings, Gruner + Jahr reach readers and users in more than 20 countries. G+J publishes magazines such as STERN (DE), BRIGITTE (DE), GEO (DE, GB, FR), CAPITAL (DE, FR), GALA (DE, FR, PL), ELTERN (CN, DE, GB), the P.M. magazines (DE), ESSEN & TRINKEN (DE) and NATIONAL GEOGRAPHIC (DE, FR, NL). Gruner + Jahr own 59.9 percent of Motor Presse Stuttgart, one of Europe’s biggest special-interest magazine publishers. G+J’s revenues in the 2014 reporting period were €1.75 billion. With 49 percent of its revenues generated outside Germany, G+J is one of the world’s most international publishers. Gruner + Jahr GmbH & Co KG is a wholly owned subsidiary of Bertelsmann SE & Co. KGaA.
Press Release: Holtzbrinck Ventures Press Release