SYS-CON MEDIA Authors: Roberto Medrano, Dmitriy Stepanov, Gilad Parann-Nissany, Srinivasan Sundara Rajan, Sean Houghton

News Feed Item

The Cambridge Satchel Company Raises $21M from Index Ventures

LONDON and CAMBRIDGE, England, Jan. 24 2014 /PRNewswire/ -- The Cambridge Satchel Company, the leather goods brand and maker of the original and best satchel, today announces funding of $21m from Index Ventures, backers of global brands and fashion retailers including ASOS, Moleskine, Net-a-Porter and Nasty Gal.

A made-in-Britain worldwide phenomenon, The Cambridge Satchel Company was created in a bustling family kitchen on a budget of just £600 by mother-of-two Julie Deane, with her own mother Freda Thomas. Determined to source best-quality leather for her satchels from the outset, Deane turned to a traditional UK craftsman to produce her first samples.  

The brand's lovingly-handmade satchels and leather goods quickly won fans around the world and across the generations, as well as approving write-ups from early adopter fashion-bloggers. Soon the company's satchels had become a celebrity 'must-have', appealing to catwalk and playground alike.

Today The Cambridge Satchel Company has over 100 employees and sells to more than 100 countries. Its bags were chosen by director Matt Weiner for cast-members of Mad Men -- the hit U.S. TV show famed for its sartorial style -- as the Season 5 wrap-party gifts.

Deane, who still oversees almost every aspect of the business (during the recent Christmas rush, she was personally embossing satchels), plans to use the investment to further strengthen her management team and recruit specialist digital talent to boost the company's profile as an internationally-recognised online brand. 

The company's partnership with Index will also enable Deane – who last year became the first woman to win the RSM International Entrepreneur of the Year Award and is a champion of UK manufacturing -- to develop The Cambridge Satchel Company's global presence, pushing into new markets including China, and more deeply into existing ones such as the U.S., while retaining the brand's hallmark of artisan authenticity.

With new product ranges in the pipeline, the workforce at The Cambridge Satchel Company's Leicestershire, UK, manufacturing-base will grow and its apprenticeship scheme will also be expanded, thereby preserving British crafts-skills that would otherwise be lost.

"Digital is at the heart of everything we do, which is why we are so excited to be entering into this partnership with Index, who have no equals in the digital arena," said Deane.

"Their work with inspirational companies like Moleskine, ASOS, Net-a-Porter and Nasty Gal, shows why they are the best-placed investors by far to help us navigate this fast-moving and ever-changing space, as we take The Cambridge Satchel Company into new markets and expand our global digital presence."

Giuseppe Zocco, co-founder and partner at Index Ventures, added: "The continuing rise of The Cambridge Satchel Company is one of Europe's most exciting entrepreneurial stories. With vision and determination, Julie turned a boot-strapped company, born without resources or support, into one that is so fearlessly taking on the world.

"At Index, we have no doubt that she has the ambition to continue to develop The Cambridge Satchel Company as a world-renowned brand. We are delighted that she has chosen us to help support her in that exciting mission," he said. 

About The Cambridge Satchel Company
The Cambridge Satchel Company, was founded in 2008 by Julie Deane and her mother Freda Thomas.

The company is committed to preserving British manufacturing, and in 2011 they set up their first factory based in Leicester, employing many locally skilled craftsmen and craftswomen.  In 2013 the company moved to a new factory -- still based just outside Leicester, four times the size of their previous site enabling production to keep pace with the terrific demand.

Collaborations with prestigious designers and retailers including Vivienne Westwood, Comme des Garcons, Christopher Shannon and Chris Benz, have seen The Cambridge Satchel Company grace catwalks from London to New York, further securing its role and international acclaim as the 'Brit It Bag'. The bags have appeared in shows including Girls, The Good Wife and Gossip Girl.

The bags can be bought online at www.cambridgesatchel.com as well as at their Covent Garden (15 Shorts Gardens, Seven Dials, London, WC2H 9AT) Rose Crescent (17 Rose Crescent, Cambridge, CB2 3LL) and recently opened Spitalfields Pop-Up Store (16 Lamb Street, London, E1 6EA).

For more information on The Cambridge Satchel Company, visit www.cambridgesatchel.com

About Index Ventures
Index is a multi-stage international venture capital firm based in London, San Francisco and Geneva. Since 1996, Index has teamed up with exceptional entrepreneurs in more than 20 countries who are using technology to reshape the world around us. The companies they've backed include ASOS, Climate Corp, Criteo, Dropbox, Etsy, Just Eat, King,  Moleskine, Nasty Gal, Ozon, Pure Storage, Skype, Soundcloud, Sonos and Supercell.

For more information on Index Ventures, please visit www.indexventures.com

SOURCE The Cambridge Satchel Company

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from ha...
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cloudian, Inc., is a Foster City, California - based software company specializing in cloud storage software. The main product is Cloudian, an Amazon S3-compliant cloud object storage platform, the bedrock of cloud computing systems, that enables c...