Stonegate Capital closed a senior debt investment in Knack. Founded by software exec and ex-VC Laura Jennings in 2015 and headquartered in Seattle, WA, Knack is a modern gift-giving e-commerce platform for sending gifts for personal, professional and corporate gifting occasions. Knack empowers customers to incorporate values-based gift items into custom gift sets that are then wrapped in tech-enabled experiences such as video gift messages, digital delivery, custom gifting events and more.
Knack will use the proceeds of Stonegate’s creatively structured credit facility to finance inventory purchases leading up to Knack’s busy holiday season and further support the company’s continued growth going forward.
“Stonegate Capital’s significant experience in the e-commerce space made them our preferred choice as a debt partner,” said Laura Jennings. “They designed a package that was perfect for our high-growth needs, and we look forward to working with Stonegate to further our mission of building interpersonal connections through meaningful gifts.”
“We are elated to be partnering with Knack. Laura and her team have built a nice business with impressive growth, and we are excited to add them to our portfolio of high-growth consumer brands,” said Dan McCallum, Director at Stonegate Capital. “We are certainly looking forward to being a collaborative partner to help further propel Knack’s growth.”