A digital florist founded less than eight years ago is finalising a mega-fundraising that will underline the extent to which the coronavirus pandemic has helped turbocharge online retail sales.
Sky News has learnt that Bloom & Wild is lining up as much as $100m (£73.8m) in new financing from investors including Index Ventures, which counts Facebook and Just Eat among the companies it has held stakes in.
General Catalyst, a leading US firm which made early bets on Airbnb and the US-based insurer Lemonade, is also said to be participating in the deal.
Sources said the funding round would value Bloom & Wild at roughly $500m (£369m), putting it on track to become the latest UK-based tech unicorn in the coming years.
The company designs its products to be delivered through recipients’ letterboxes, giving it a distinctive position in a market estimated to be worth £14bn annually.
Bloom & Wild was founded by Aron Gelbard in 2013, and is said to have seen sales surge during the pandemic, with demand especially high during the recent Christmas period.
Mr Gelbard predicted in an interview in 2018 that his company would overtake Interflora as Britain’s leading florist by 2023.
The stellar valuation comes little more than two years after the company raised £15m from backers including Piper Private Equity and MMC Ventures, an early-stage technology company investor.
One source said the latest funding round would include participation from some of Bloom & Wild’s existing shareholders.
Neither Bloom & Wild nor General Catalyst responded to requests for comment, while Index referred a request for comment to Bloom & Wild.