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E-commerce startup My 1st Years lands £5m to boost US expansion

My 1st Years founders

E-commerce startup My 1st Years has raised £5m in growth funding to boost its international expansion to the US.

The round, which brings the company’s total to £7m, was led by Beringea and supported with funds managed by Hargreave Hale.

Co-founded in 2009 by school friends Daniel Price and Jonny Sitton, the startup, which provides customised gifts for children, will also use the money to drive developments in operations and marketing.

Price commented on the raise: “We always had a lot of faith in the potential of this company, but we’ve really seen that come to life in the last year or so, and it’s time for us to build on the success we’ve already had. Funding is key to the next step for us.

“When we launched the business, our aim was to plug the gap and provide quality products in the same amount of time you would have an unpersonalised item. Because we were early to the party, we’ve grown with the personalisation trend and have had to be pretty reactive, adapting our systems to ensure we are able to personalise items the same day.

“With this funding under our belt, we’ll be able to enhance our existing proprietary personalisation technology, as well as invest in the skills we need to do more with our data, create effective marketing campaigns and build on our international shipping by expanding into the US,” he continued.

A favourite with celebrity clients including Dannii Minogue and Elton John, My 1st Years previously raisded £2m from high-net worth individuals including Lord David Alliance in May 2010.

Maria Wagner, investment director at Beringea, said she believed Price and Sitton were natural entrepreneurs and praised their trajectory to date:

“What they have achieved so far is particularly impressive given this is their first job out of university. Not only have they spotted a gap in the market and had the guts to go for it, they have also managed to secure the support of veteran e-commerce professionals, broker relationships with leading retailers in the country and create impressive buzz among the press and consumers. Their achievements so far give me immense confidence that they can really push on to the next level with support from us. We look forward to joining them on their journey.”

The news comes after Beringea’s invested in Poq, Thread and Contact Engine last year.

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