What is ModCloth?
Founded in 2002 by Susan Gregg Koger and Eric Koger, ModCloth has evolved from a dorm-room startup into a significant player in the fashion e-commerce sector. The company distinguishes itself through a unique, lifestyle-driven assortment that emphasizes inclusivity, offering a comprehensive size range from XXS to 4X. By blending a vintage aesthetic with modern digital retail strategies, ModCloth has cultivated a loyal community, positioning itself as a leader in the direct-to-consumer apparel market. Its operational footprint, spanning Los Angeles and Pittsburgh, supports a business model that prioritizes personal style and customer-centric value propositions.
How much funding has ModCloth raised?
ModCloth has raised a total of $65.4M across 6 funding rounds:
Other Financing Round
$1.1M
Series A
$2.1M
Series B
$19.8M
Series C
$25M
Other Financing Round
$2.5M
Private Equity
$15M
Other Financing Round (2008): $1.1M with participation from First Round Capital, Great Oaks Venture Capital, and Innovation Works
Series A (2009): $2.1M led by Maples Investments and First Round Capital
Series B (2010): $19.8M supported by Floodgate, Accel Partners, and First Round Capital
Series C (2012): $25M featuring Floodgate, Accel Partners, Norwest Venture Partners, and First Round Capital
Other Financing Round (2012): $2.5M backed by Norwest Venture Partners
Private Equity (2015): $15M, investors not publicly disclosed
Key Investors in ModCloth
First Round Capital
A venture capital firm that invests in innovative startups across various sectors, focusing on supporting entrepreneurs to achieve significant market results.
Norwest Venture Partners
A global, multi-stage venture capital and growth equity investment firm founded in 1961, headquartered in Palo Alto with an international presence.
Floodgate
A venture capital firm that evolved from Maples Investments, focusing on a Super Angel model to bridge gaps in traditional venture capital for innovative startups.
What's next for ModCloth?
Following its major strategic investment, ModCloth is well-positioned to leverage its capital to deepen its market penetration and refine its supply chain efficiencies. The company's lifecycle stage, characterized by significant enterprise-level backing, suggests a focus on sustainable growth and potential diversification of its product lines. Future initiatives will likely center on enhancing the digital customer experience and exploring new avenues for brand engagement, ensuring that ModCloth remains at the forefront of the competitive fashion landscape while maintaining its core mission of empowering women through accessible, high-quality apparel.
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