Daily Grommet Raises $3.4 Million
The Daily Grommet just hit the daily double. The Lexington, MA-based startup, which scouts out consumer products from colorful, progressive, relatively unknown manufacturers and promotes one such “grommet” each day through online videos, announced today that it has closed the first tranche of its Series A funding round at $3.4 million. Existing investors LaunchCapital and Gerry Laybourne, founder of Nickelodeon and Oxygen Media, were on board for the A round, and were joined by new investors Jean Hammond of Hub Angels and Launchpad Venture Group, John Landry of Lead Dog Ventures, Nancy Peretsman, and Jill Preotle of Boston Golden Seeds. “Daily Grommet is attacking an enormous market opportunity in a David vs. Goliath way,” Landry said in a statement. “This is already a totally disruptive story-using social technologies to blow up the old models of product discovery and distribution.” Xconomy profiled the Daily Grommet in July 2009 and published an extended interview with founder and CEO Jules Pieri in August 2009.