The Top 500 retailer buys Campus Deals, which offers mobile coupons to college students.
Web-only apparel retailer Indochino raises $13 million
A co-founder of Staples also joins the merchant’s board.
Topics: Acton Capital Partners, customized e-retail, e-commerce investment, Highland Consumer Fund, Indochino, Jeff Mallett, Kyle Vucko, Madrona Venture Group, men's fashion, NewsMakers, online apparel sales, Staples, Tom Stemberg, web only retailers
Web-only apparel retailer Indochino has raised $13 million in capital. The Series B funding round was led by Highland Consumer Fund with participation by existing investors Madrona Venture Group, Acton Capital Partners and Jeff Mallett, the former president and chief operating officer for Yahoo Inc.
Indochino launched in 2007 and has raised a total of $17 million. The e-retailer sells custom suits made from measurements that customers provide via the e-commerce site. The new capital will go toward marketing, product development and hiring management and operations employees, the e-retailer says.
“Over the past several years we have seen incredible growth in the world of online to offline fashion,” says Kyle Vucko, CEO and co-founder of Indochino. “Consumers are accustomed to the convenience of online shopping, but want something more personal. This funding will help us expand our marketing programs and create new styles that keep our customers coming back again and again.”