Le Tote, a San Francisco, CA-based on-demand fashion rental service, raised $15m in Series B funding.
The round was led by AITV with participation from existing investors Lerer Hippeau Ventures, Azure Capital, Simon Venture Group, Epic Ventures and Funders Club.
The company intends to use the funding build its executive team, make further investments in technology and accelerate overall company growth.
Founded in 2012 by Brett Northart and Rakesh Tondon, CEO and Co-Founder, Le Tote operates an on-demand fashion service that allows customers to borrow unlimited clothing and accessories for $49/month and maternity clothing for $59/month.
Each shipment includes three pieces of clothing and two accessories, curated using the company’s proprietary fit algorithm.
Y Combinator backed Le Tote partners with more than 80 brands including Free People, BCBGeneration, House of Harlow, French Connection, Vince Camuto, etc.