HomeUSAModCloth Closes $19.8M Series B Financing

ModCloth Closes $19.8M Series B Financing

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ModCloth, a San Francisco, CA-based online retailer specializing in fashion and decor from independent designers, has secured $19.8m in a Series B financing.
The round was led by Accel Partners, with participation from existing investors First Round Capital and Floodgate.
In conjunction with the funding, Theresia Gouw Ranzetta of Accel, joins Josh Kopelman of First Round Capital and Mike Maples of Floodgate, alongside co-founders Eric Koger and Susan Gregg Koger, on the company’s board.

ModCloth will use the capital to further develop its own social commerce platform built in Ruby on Rails.

The company’s product management and digital experience teams are already working in San Francisco. ModCloth is also planning to launch a new supply chain operation in Los Angeles within the next several months while the original Pittsburgh office will continue to serve as the hub for customer support and distribution, along with other core functions.
The company currently employs a team of over 150.
FinSMEs
01/07/2010