International law firm CMS has advised OMERS Ventures, the ventures arm of OMERS, on its role leading Lick Home’s (Lick) $22 million Series A fundraising round. The investment group included existing investors Felix Capital as well as Magnus Rausing, Alex Chesterman and Kathaka, the family office of Caroline Rupert of Richemont.
Founded in 2019, Lick is a London-based direct-to-consumer home decor start-up selling a curated range of sustainable paint, wallpaper, blinds and supplies via omnichannel distribution. Within its first eight months Lick reported revenues of $7 million and has grown an international community of over 185,000 decorators.
Lick intends to use this Series A investment to expand its product offering, launch new sustainability initiatives and grow its home decorator community.
Tom Jameson, CMS Corporate partner, comments: “We are delighted to support OMERS Ventures on its strategic investment in Lick. The interiors market has flourished over the last 12 months due to national lockdowns and the subsequent increase in time that consumers are spending at home. This Series A investment is a testament to investors’ confidence in the sector and will help to supercharge Lick’s already impressive growth.”
Harry Briggs, OMERS Ventures Managing Partner, comments: “We believe the Lick team and the brand have what it takes to become global category leaders and help millions of people transform their homes. We are delighted to announce this investment and would like to thank the CMS team for their support throughout this process. At every stage they have provided us with commercial and pragmatic advice, making the process as straight-forward as possible.”
The CMS team was led by Tom Jameson (Partner), with support from Beale Stronach and Costa Christoforou (Corporate); Gary Henderson and Samantha Love (Employment); David Parrish and Lucinda Richardson (IP); Graham Muir and Dilpa Raval (Share Schemes); and Duncan Turner and Megan McCulloch (Data Privacy).
