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TechnologyJul 30, 2014
Jewelry e-commerce site BaubleBar raises $10M
Online fashion jewelry retailer BaubleBar has raised $10 million in a Series B financing round led by Burch Creative Capital, which is headed by retail and fashion veteran Christopher Burch.
New York--Online fashion jewelry retailer BaubleBar has raised $10 million in a Series B financing round led by Burch Creative Capital, which is headed by retail and fashion veteran Christopher Burch.
Other participants in the funding include Aspect Ventures, Triplepoint Ventures, Comcast Ventures, and existing investors Accel Partners and Greycroft Partners.
The capital will be used to support the growth of the company and its existing retail partnerships with stores such as Nordstrom and Anthropologie, and to build out its internal fulfillment and technology infrastructures, BaubleBar said in a statement released on Tuesday.
Fast-fashion jewelry site BaubleBar was co-founded in 2010 by friends Amy Jain and Daniella Yacobovsky, who set out to create on-trend fashion jewelry at an affordable price point. The site has been a game-changer in the fashion jewelry world with its consolidated supply chain and speed to market, allowing for products to move from production to being available for sale in as little as four weeks.
The company previously raised $1.1 million in a seed round led by Accel in December 2010 and $4.5 million in a Series A led by Accel and Greycroft in June 2012.
Christopher Burch, meanwhile, is known for co-founding the fashion brand of his ex-wife, Tory Burch. He also has launched his own successful clothing chain venture, C Wonder.
BaubleBar’s partnerships with such retailers as Nordstrom and Anthropologie were a major part of Burch’s decision to invest in the company, according to an interview with Women’s Wear Daily.
“I was incredibly impressed by BaubleBar’s growth and their move into traditional retail,” Burch told WWD. “I thought this would be the perfect time to not only invest but mentor them as they continue to grow the business and distribution. The girls have an incredible passion for what they are doing and their success so far in setting up a vertically integrated business driven by data analytics really blew me away.”
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