Enjoy Inc., an ecommerce startup founded by former J.C. Penney Co. Inc. CEO and Apple Inc. executive Ron Johnson, received a “significant investment” from LCH Partners, a fund managed by private equity firm L Catterton.
Sources familiar with the deal say LCH invested $150 million. With the new Series C round of funding, Enjoy has raised more than $350 million from investors, the company announced Tuesday.
Enjoy Inc. partners with consumer electronics brands to offer fast delivery of technology products using personnel trained to help the consumer set up and use what they buy. The set-up service, which is provided free to consumers, is intended to “bring the store to you” by combining the help available from in-store salespeople with the convenience of online buying. In areas where the service is available, partner companies offer Enjoy delivery services to consumers as an option available at checkout. Delivery often takes place the same day, Enjoy says.
Enjoy will use the newly raised funds to fuel expansion across the United States and the United Kingdom, a spokeswoman says. Enjoy says it plans to expand to one more country this year and additional countries in 2020, she added but declined to specify the countries.
Launched in 2015, Enjoy currently operates in more than 54 U.S. markets, covering more than 50% of the U.S. population, the company says. Its U.S. partners are telecom provider AT&T Inc., Google Store, home entertainment brand Sonos Inc., and Magic Leap Inc., which makes virtual reality equipment.
In the U.K., Enjoy works with EE, a British mobile network operator and a unit of telecom giant BT Group plc. The EE partnership, which started in parts of London, expanded this month to cover more regions of London, along with Birmingham and Manchester. Enjoy says it plans to expands its services to the cities of Glasgow, Leeds, Nottingham, Liverpool, Bristol, Sheffield, Cardiff and Cambridge by the end of 2019. In 2020, Enjoy will be available to 80% of the U.K. population, the company says.
Besides LCH Partners, Enjoy’s investors include Riverwood Capital, Stamos Capital, Kleiner Perkins, Highland Capital and Oak Capital Management.
Enjoy currently has more than 1,500 employees and plans to increase headcount to more than 2,000 employees by spring 2020, the spokeswoman says. The majority of people hired will be experts to serve customers in Enjoy’s markets in the U.S., U.K. and elsewhere.