Stylistpick completes $11m funding round
Fashion recommendation site’s Series B round let by Fidelity Growth Partners Europe
Stylistpick.com, the web-based start-up which provides bespoke shopping recommendations for fashion-conscious consumers, has completed a Series B funding round worth $11m (£6.9m).
The round has been led by Fidelity Growth Partners Europe, a specialist in growth equity finance, with support from Stylistpick’s existing investors Accel Partners and Index Ventures. Davor Hebel, a partner at Fidelity, will join the board of Stylistpick as part of the deal, and use his experience of working with likes of Seatwave and Innogames to drive further growth. Since its launch in November 2010, Stylistpick – which invites new subscribers to take a ‘style quiz’, and then sends them a tailored monthly collection based on their answers – has notched up more than 600,000 members, and signed up Cheryl Cole as a brand ambassador. The new investment follows an $8m (£5m) Series A funding round, completed in April 2011. Stylistpick hopes the new funding will fuel further expansion in the UK, and entry into foreign markets. Felix Leuschner, CEO of Stylistpick, said: “Stylistpick is growing very quickly, and we’re eager to take the business to the next level. The round of funding from Fidelity, Accel Partners and Index Ventures will allow us to scale our operations and expand into new markets. “The three investors share our vision of building the next generation online fashion company, and we’re very excited to be working with them.”