A FRESH COAT OF PAINT
Lick is a force for change in the global home décor market, a breath of fresh air for passionate decorators whose devotion to bright, floral wallpapers is matched only by their hope for a healthier climate. London, England-based and fast rising in popularity among the home décor glitterati, Lick is a community-powered brand that inspires and supports decorators in transforming their spaces while making substantial commitments to environmental sustainability. Lick is also one of the newest portfolio companies at OMERS Ventures, which led the $22-million kickstart Series A funding.
OMERS Ventures is a “startup superhighway,” investing in early-stage technology businesses with a purpose to generate returns that help us deliver our pension promise to you, our members. Our investment in Lick, founded in 2019, will support the burgeoning new brand on its mission to transform the $838-billion global home décor market and make a positive impact on our planet by reducing the industry’s environmental footprint.
Lick makes water-based and lower VOC (volatile organic compound) interior and exterior varnishes that are more easily biodegradable with significantly fewer harmful chemicals than you’d find in more traditional varnishes, and their wallpaper is FSC certified, meaning it’s sustainably sourced from forests around Europe. The company has partnered with 4ocean and One Tree Planted, so for every tin of paint sold, 18 g of plastic is removed from the ocean and, for every roll of wallpaper sold, a tree is planted. Lick has built a community of close to 200,000 home decorators committed to the company’s sustainability mission, planted enough trees to cover 72 soccer fields and removed the equivalent of 122,504 plastic bottles from the oceans. Soon, Lick’s 100% biodegradable plastic bags will also be water soluble, so they can dissolve and disappear without harming the planet.
As part of the company’s Series A funding round in June 2021, Lick reserved $1.4 million in shares to be offered via a crowdfunding platform called Seedrs, giving Lick customers and enthusiasts the opportunity to invest in the company. The campaign was a huge success, reaching the target only six hours after going public and attracting the highest-ever percentage of women investors raising equity funding through crowdfunding.