Little Black Bag Raises $8M in Series B Funding
Little Black Bag, a Los Angeles, California-based social commerce site that offers a personalized collection of brand name women’s merchandise, has raised $8m in Series B funding.
The round, which brings the total amount raised to date to $10.75m, has been led by GRP Partners, with participation from DCM.
The company intends to use the capital to expand its marketing and merchandising teams, drive customer acquisition, add new brand partners and bring even more excitement to shopping online.
Launched in early 2012 by CEO Dan Murillo, Little Black Bag offers shoppers an entertainment-based online shopping experience. Inspired by the Japanese “fukubukuro”, or lucky bag sale concept, it allows customers to buy a personalized mystery bag filled with women’s fashion products and then trade the items with others – all online.