Tala, the activewear brand founded by influencer Grace Beverley, has raised an extra £5m in a funding round led by a backer of Five Guys.
The London-based business has secured additional funding from Pembroke VCT alongside existing investors Venrex and Active Partners.
Beverley founded Tala in 2019 and raised £4.2m in December 2021 in a move led by Active Ventures and Venrex.
The money will also be used to explore opportunities to establish a physical retail presence on the high street.
A few months later Tala raised an additional $5.7m in an investment round with various venture capital firms.
Tala, which is led by CEO Morgan Fowles, plans to use the latest investment to expand internationally, with its main focus on the US.
Pembroke VCT, which first invested in Tala in 2021, also holds a stake worth around £10m in Five Guys.
Earlier this year talent agency YMU, which was recently bought for £60m, signed up Beverley as a client.
‘Incredibly exciting milestone’
Beverley said: “This new funding round led by Pembroke marks an incredibly exciting milestone in Tala’s growth.
“The love and support from our customers as we’ve expanded into new categories and solidified our offerings have been nothing short of remarkable.
“I am incredibly excited for the next stage of our journey and look forward to continuing to disrupt the industry with well-thought-through wardrobe favourites and problem-solving pieces for women, by women.”
Andrew Wolfson, CEO of Pembroke VCT, added: “Pembroke VCT’s investment in Tala 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 enable Tala to accelerate its expansion, enhance its product range, and strengthen its global market position.
“The global athleisure market is ripe for disruption from bold, young entrepreneurial brands, and Tala is well positioned to lead the way.”
Who owns Tala?
According to a document filed with Companies House, Beverley holes just over one million shares in We Are Tala (Holdings) Limited.
Active Partners, which has previously backed Soho House, Leon and Secret Cinema, also holds 17,400 shares.
Fashion blogger Lydia Abraham is also a shareholder alongside digital marketer and investor Danielle Canty.
Julien Codorniou, in investor at Felix Capital which has a stake in Andy Murray-backed Castore, also holds shares.
The co-founder and CEO of LA-based Boss Babe, Natalie Ellis, also holds a stake as well as Simon Mottram, the founder of sportswear and lifestyle brand, Rapha.
Venture capital firm Venrex, which has backed the likes of Charlotte Tilbury, JustEat and Revolut, holds around 90,000 shares.
Debbie Wosskow, the former CEO of Love Home Swap, also holds a small stake.
Grace Beverley breaks adverts rules over posts
The new comes after it was ruled in May that Beverley had broken advertising rules with six posts promoting her fashion brand, Tala.
The entrepreneur shared two reels and four TikToks in October which the Advertising Standards Authority (ASA) told her to remove.
She shared the videos of her promoting a coat from Tala while the business argued her followers would be aware of her relationship with the activewear brand.
However, the ASA ruled that they breached rules that adverts must be obviously identifiable.