Melissa & Doug founders' new venture Lifelines secures Wingspire credit facility
What's the deal? Wingspire Capital has provided a secured revolving credit facility to LifelinesDealroom has a profile for this one. Try Dealroom →, a sensory art engagement company founded by Doug and Melissa Bernstein, the co-founders of Melissa & Doug ToysDealroom has a profile for this one. Try Dealroom →. The proceeds will fund working capital and growth capital.
What's the endgame? Lifelines designs products meant to draw users away from screens, including FlowArt pointillism artwork, scented writing pens, and flameless candle diffusers. Its founders pitch these as tools that use senses such as touch and smell to interrupt the fight-or-flight response tied to stress.
Why now? The facility gives the growing business flexible capital as it scales. Wingspire structured the deal to fit the company's specific needs.
"We enjoyed working with Doug and his team to learn the objectives of their growing business so we could create a tailored capital structure that meets their exact needs," said Brian Scully, managing director at Wingspire Capital.
Doug Bernstein called the Wingspire team "smart, collaborative, responsive and committed."
The signal: The founders behind one of the best-known toy brands are backing a new bet on analogue, screen-free products — and lenders are willing to fund it, even without a traditional equity round.
Read more: equipmentfa.com
Image credit: Generated with Gemini
