Bloom & Wild, a London-based company revolutionizing flower ordering and delivery with a modern, online approach, has experienced significant growth in the past year. Today, the company announced a substantial funding round designed to capitalize on emerging opportunities.

The business has secured £75 million ($102 million) in a Series D funding round. These funds will be allocated to continued expansion throughout Europe – currently including the UK, Ireland, France, Germany, and Austria – alongside ongoing investments in technology, talent acquisition, innovative concepts, and strategic partnerships, such as a new collaboration with supermarket chain Sainsbury’s to establish a physical retail presence.

“We are incredibly grateful for the opportunity to have continued operations during a challenging period for many businesses,” stated Aron Gelbard, Bloom & Wild’s co-founder and CEO, in an email. “It has been a genuine pleasure and privilege to help our customers stay connected with loved ones when in-person visits were limited. We observed robust sales during national restrictions, and this momentum has continued as we’ve successfully attracted and retained new customers.”

General Catalyst is leading the funding round, with participation from Index Ventures, Novator, Latitude Ventures, D4 Ventures (founded by Hanzade Dogan), and existing investors including Burda Principal Investments.

While Bloom & Wild has not disclosed its valuation, reports from last week (as noted by Sky News) suggest a valuation of approximately $500 million.

This funding round follows a period of substantial growth for the company. Revenues increased by 160% in 2020, with a total of 4 million flower deliveries – exceeding the cumulative total from the company’s entire history prior to that year. This performance resulted in the company’s first profitable year.

Established in 2014, Bloom & Wild had previously raised around $35 million, with PitchBook estimating a pre-money valuation of $88 million following its 2018 funding round. Consequently, a $500 million valuation signifies a considerable increase.

One might wonder how consumers prioritize flower purchases during a global pandemic. However, it appears that flower-based gifts, both for others and for personal enjoyment, hold a special significance, particularly during difficult times.

While demand for items like toilet paper and face masks has subsided, consumers have continued to indulge in non-essential purchases, including higher-quality food, home furnishings, and, notably, flowers. Flowers possess a unique appeal within the gifting and indulgence landscape.

During a health crisis that restricts in-person interactions, receiving flowers can take on a new and more profound meaning. The visual appeal, fragrance, and sense of life they offer can serve as a substitute for the human connection that is missed.

“We are honored to have facilitated connections between people during this challenging time, and I commend our expanding team for successfully scaling our operations while maintaining the thoughtfulness and care we dedicate to each order,” Gelbard stated. “With this new investment from General Catalyst and Index, we are entering 2021 with renewed enthusiasm to achieve our vision of becoming the world’s foremost and most cherished flower company.”

The market for flower delivery is extensive. In the UK alone, the British Florist Association lists approximately 7,500 florists, not including numerous online-only retailers (such as Bloom & Wild) and broader delivery services like Interflora or FTD.

FTD has been active in consolidation, acquiring US flower delivery startup BloomThat (which positioned itself as an “Uber for flowers”) in 2018.

Although some consumers still prefer in-person flower shopping, a significant portion of purchases have transitioned online, particularly for deliveries, making it easier to launch and scale online-only flower businesses.

Bloom & Wild’s product strategy centers on selling flowers in bouquets, with a focus on designing smaller bouquets that can be conveniently delivered through standard UK mail slots.

The bouquets are visually appealing and designed to resonate with individuals who discover them on social media platforms like Instagram (where the company has around 250,000 followers). They are tailored to contemporary lifestyles. (For instance, the bouquet pictured above, “The Ezra,” is described as “This cocktail of vibrant oranges and soft lilacs reminds us of holidays in the sun. And the people we’d spend them with. Missing your travel buddy? Send them this instant day-brightener.”)

The company offers options for office flower arrangements – though demand may have decreased recently – and subscription services, similar to other direct-to-consumer online products. Bloom & Wild leverages customer data to personalize flower selections and recommendations. The company has expanded beyond flowers, offering Christmas trees and complementary gifts, and is gradually establishing a physical retail presence.

Ultimately, the company’s success stems not only from the efficiency and targeting of its service but also from delivering flowers that customers genuinely appreciate.

Gelbard emphasizes that the company maintains “the most direct supply chain in the flower industry, sourcing directly from growers. This ensures our customers receive excellent value and enjoy longer-lasting flowers, arriving in bud and blooming for up to ten days or more.”

He also highlights the company’s “bespoke technology and data science platform” designed for a seamless ordering experience on both app and web. Finally, “in a traditionally commoditized industry reliant on paid search, we’ve adopted an innovative approach to product and brand development,” he notes, referencing the “letterbox flower” concept.

“Bloom & Wild has transformed the traditional flower gifting experience by integrating predictive analytics and technology to deliver fresher, less-travelled bouquets to those you cherish,” said Adam Valkin, MD, General Catalyst, in a statement. “Aron and his team’s ability to balance industry-leading efficiency with the intricate challenges of flower delivery while simultaneously creating a beloved and authentic consumer experience is truly impressive.”

Martin Mignot, partner at Index Ventures, added: “The Bloom & Wild team has reimagined every aspect of flower delivery and gifting, challenging conventional practices at every turn. Through consistent execution, Aron and his team have created a delightful experience for customers, becoming the fastest-growing flower business in Europe. We are excited to partner with them as they expand internationally.”