Lulus, a Chico, CA-based digitally native apparel brand for women, received a $120m investment.
Backers included IVP and Canada Pension Plan Investment Board. In conjunction with the investment, Eric Liaw, General Partner at IVP, will join the Lulus Board of Directors.
The company will use the proceeds from the financing to expand its business reach.
Founded in 1996 by Colleen Winter and Debra Cannon, Lulus is a lifestyle, fashion brand offering curated products at reasonable prices and a personalized online shopping experience. Starting as a vintage boutique in Chico, CA, the company transitioned to purely online in 2008.