Gwyneth Paltrow is new investor as Rockets of Awesome raises $12.5m

By

Obi Anyanwu

Published
Jan 4, 2017

Rockets of Awesome, a children’s clothing subscription service, announced on Tuesday that it has risen $12.5 million in Series A funding. The round, which included new investors August Capital and actress Gwyneth Paltrow and existing investors Forerunner Ventures and General Catalyst, increased the company’s total funding to $19.5 million.

 
Entrepreneur Rachel Blumenthal founded the New York City-based company that offers children’s clothing via a subscription service. Parents that sign up for Rockets of Awesome receive 12 pieces of children’s clothing per child four times a year, and they can pay for the clothes they wish to keep or purchase clothing a la carte. The children’s clothing offered on Rockets of Awesome range from sizes 2 through 14.
 
Rockets of Awesome plans to put its Series A funding towards building infrastructure and data capabilities.

Prior to launching Rockets of Awesome, Blumenthal, a mother of two, founded jewelry brand Rachel Leigh and online baby registry website Cricket’s Circle, which according to Blumenthal inspired the subscription service company and provided insight. Blumenthal also worked in public relations at Yves Saint Laurent operating from the New York City office.