Summersalt, a St. Louis-based swimwear startup, has raised a $6.1 million round of funding from investors led by Founders Fund, the venture capital firm run by PayPal founder Peter Thiel.
The round also includes investment from AOL founder Steve Case’s Revolution Ventures, as well as Clayton-based Lewis and Clark Ventures and St. Louis-based Cultivation Capital, along with a handful of other investors.
The company plans to use the capital to make new hires and develop product lines beyond swimwear.
Founded in 2017 by designer Lori Coulter and Reshma Chattaram Chamberlin, Summersalt uses data points to make individualized swimsuit recommendations. The company sells swimsuits directly to consumers for $95 or less.
The round brings total capital raised to date for Summersalt to $8.7 million.