Sportswear brand TALA secures £5m funding boost from top investors | Business News

TALA, the sportswear brand founded by Grace Beverley, will this week reveal a £5m funding boost from a syndicate of leading investors, including an early backer of womenswear brand Me+Em.

Sky News understands that TALA, which was founded by Beverley in 2019 and now employs 45 people, has secured a seven-figure capital injection from Pembroke VCT, Venrex and Active Partners – all of whom were already shareholders in the business.

Often labeled as one of Britain’s most prominent influencers, Beverley has attracted almost half a million followers to TALA’s Instagram account, underlining the changing way in which consumer brand owners are building their companies’ customer bases in an era increasingly dominated by social media channels.

The new funding will be used to help TALA expand internationally, initially in the US, where it says it has gained significant customer and social media traction.

It also intends to explore the potential to establish an autonomous physical presence in street commerce for the first time.

Based in London, the brand has seen a tenfold increase in monthly revenue since its last fundraising three years ago and is now sold in all Selfridges stores in the UK.

Beverley described the fundraising as “an incredibly exciting milestone in TALA’s growth.”

“TALA continues to be proudly founded and run by women – the vast majority of our leadership roles and management roles are held by women, something I am immensely proud of and which sets us apart from the majority of women-owned businesses,” she said.

“Only 2% of VC [venture capital] funding in the UK goes to female-founded businesses, so I don’t underestimate how statistically difficult it is to reach this stage of the business life cycle.

“Our customers are at the center of everything we do and every decision we make, and I’m excited to continue serving them with thoughtful wardrobe favorites and problem-solving pieces for women, by women.”

The £5 million fundraising comes amid a boom in parts of the so-called athletics market, with data from Precedence Research suggesting the global market, which surpassed $360 billion in value last year, would grow and generate $880 billion in sales by 2033.

TALA’s dizzying growth and its founder’s success have not been entirely without blemish: in May, the advertising watchdog asked him to remove six social media posts that it said violated its rules – a contested verdict for the company.

Morgan Fowles, chief executive of TALA, said the capital increase announced this week was particularly notable given liquidity constraints in private finance markets.

“We experienced firsthand that fundraising three years ago was a powerful unlock for growth, allowing us to scale faster, take calculated risks and benefit from a network and shared resources across portfolio companies,” she said.

“We are fortunate that our results mean we have the opportunity to raise funding again, with strategically aligned investors and the incremental opportunities this will provide.”

Pembroke VCT was among the investors in Me+Em, the fashion brand whose profile soared this month when one of its dresses was worn by Victoria Starmer, wife of the new prime minister, as they arrived at Downing Street the morning after the general election.

Andrew Wolfson, chief executive of Pembroke VCT, said the new funding injection “reaffirms our confidence in the brand’s innovative approach and strong market appeal”.

“Grace Beverley, Morgan Fowles and the team have a unique ability to tap into their consumer base, leveraging organic channels to expand TALA’s presence and reinforce its core values.

“This investment will allow TALA to accelerate its expansion, improve its product range and strengthen its position in the global market.

“The global sports market is ripe for disruption by young, entrepreneurial brands, and TALA is well positioned to lead the way.”