Popular Clothing Online Sales Website Second Round Of Financing
On July 1st, according to foreign media reports, Mod Cloth, the popular online sales website, raised $19 million 800 thousand through second rounds of financing recently. The current round of financing was led by Accel Partners, a venture capital company. The investment included the Floodgate and First Round Capital that had already been invested.
According to the investment agreement, Accel Partners partner Dylcia Glu Lanzeta (Theresia Gouw Ranzetta) will join the Mod Cloth board.
Mod Cloth was founded in 2002, selling fashionable clothing for young ladies through the website. Eric Koger Eric Koger and Susan Greg Koger Gregg Koger are husband and wife.
The company has been profitable since 2009.
Mod Cloth plans to use the financing to improve its inventory and sales capabilities, and Eric Koger said the biggest problem is that there is often a shortage of hot clothing.
In addition, the website will add some social functions, including a more powerful voting mechanism.
Mod Cloth currently has more than 150 employees.
The company will open new offices in San Francisco and Losangeles.
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