Tie maker known for hiring resettled refugees raises $640K

Screenshot 2019 03 29 Knotty Tie Co Custom Handmade Ties Scarves1

Knotty Tie creates job opportunities for refugees, particularly women. (Screenshot)

A Denver-based necktie maker has tied up $640,000 of fresh funds.

Knotty Tie, a startup that aims to create employment opportunities for refugees that have resettled locally, disclosed the fundraising round in a March 22 SEC filing. Nine investors participated in the round.

The company declined to comment on the capital raise.

Knotty Tie hires refugees to produce ties, pocket squares and bow ties, all of which are designed, printed and sewn at its facility in the Santa Fe Arts District, according to its website.

Cofounders Mark Johnson and Jeremy Priest told Denver7 in 2016 that they started the company to help alleviate the difficulty that refugees, especially women, have finding employment.

“We decided that we would create a company that would really have fair compensation, benefits and a flexible schedule, so they could work as little or as much as they need,” Priest told the station.

The brand’s neckties and bow ties retail for about $40, while its pocket squares sell for about $15, according to Knotty Tie’s website, which indicates it employs at least six refugees. Customers can choose between predesigned options or customizing their own.

The startup is also a favorite of Hillary Clinton’s. The former presidential candidate gave a shout-out to Knotty Tie during her acceptance speech at the Democratic National Convention in 2016, and visited the company’s facilities during a campaign stop in Denver a week later.

Screenshot 2019 03 29 Knotty Tie Co Custom Handmade Ties Scarves1

Knotty Tie creates job opportunities for refugees, particularly women. (Screenshot)

A Denver-based necktie maker has tied up $640,000 of fresh funds.

Knotty Tie, a startup that aims to create employment opportunities for refugees that have resettled locally, disclosed the fundraising round in a March 22 SEC filing. Nine investors participated in the round.

The company declined to comment on the capital raise.

Knotty Tie hires refugees to produce ties, pocket squares and bow ties, all of which are designed, printed and sewn at its facility in the Santa Fe Arts District, according to its website.

Cofounders Mark Johnson and Jeremy Priest told Denver7 in 2016 that they started the company to help alleviate the difficulty that refugees, especially women, have finding employment.

“We decided that we would create a company that would really have fair compensation, benefits and a flexible schedule, so they could work as little or as much as they need,” Priest told the station.

The brand’s neckties and bow ties retail for about $40, while its pocket squares sell for about $15, according to Knotty Tie’s website, which indicates it employs at least six refugees. Customers can choose between predesigned options or customizing their own.

The startup is also a favorite of Hillary Clinton’s. The former presidential candidate gave a shout-out to Knotty Tie during her acceptance speech at the Democratic National Convention in 2016, and visited the company’s facilities during a campaign stop in Denver a week later.

This story is for our paid subscribers only. Please become one of the thousands of BusinessDen members today!

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

POSTED IN Retail

Editor's Picks

Leave a Reply

Your email address will not be published. Required fields are marked *