LOS ANGELES--(BUSINESS WIRE)--ShoeDazzle.com, the online monthly fashion styling service, has announced the completion of its $13 million growth financing, led by Lightspeed Venture Partners of Menlo Park, California, and existing investor Polaris Venture Partners of Boston, Massachusetts. The funding will allow the company to launch related products that will continue to dazzle its members and to accelerate its leadership position in a new business category created by ShoeDazzle.com. This capital infusion brings the total funding raised for ShoeDazzle.com to over $20 million.
ShoeDazzle.com offers fashion-loving women customized, current styles selected for them by celebrity stylists for $39.95 a month. ShoeDazzle was founded in March 2009 by CEO Brian Lee, who previously co-founded LegalZoom.com, and Kim Kardashian, celebrity and former fashion stylist.
Pioneering a new and innovative online shopping model, ShoeDazzle has already reached profitability in its first year. "Blending online expertise and celebrity fashion, ShoeDazzle.com captures the essence of shopping on Rodeo Drive, while remaining fun, affordable and effortless for its clients,” said Kardashian.
"ShoeDazzle is a fashion lover’s dream come true. Not everyone can be a celebrity, but that doesn’t mean you can’t be treated like one. We provide a unique celebrity stylist and boutique feel to every member of our society," said Brian Lee, Founder and Chief Executive Officer of ShoeDazzle. "Funding by Lightspeed and Polaris will allow us to accelerate our already rapid growth and to expand our product offering and service to create a complete fashion experience and leverage our platform to help women express their full style potential.”
"I am very excited about the trend towards online shopping as entertainment,” said Jeremy Liew, Managing Director at Lightspeed Venture Partner and newest board member to ShoeDazzle. “In the real world, shopping is fun, and discovering great new products is exciting. ShoeDazzle brings that experience online."
“ShoeDazzle is breaking ground on a new way of shopping that gives every woman the fun and attention of their own personal shopper at an amazing price point,” said Jason Trevisan of Polaris Venture Partners and ShoeDazzle board member.
Founded in 2009, ShoeDazzle is an online, monthly fashion styling service that matches fashion-loving women with personalized style by using proprietary technology and celebrity stylist recommendations. With a simple, affordable price, and the convenience of current style delivered to members’ doors, ShoeDazzle is growing an interactive buying community of fashion loving members. The company offers its own branded products, as well as products from select fashion partners. For more information, visit www.ShoeDazzle.com, or www.facebook.com/shoedazzle.
About Lightspeed Venture Partners
Lightspeed Venture Partners is a leading global venture capital firm with over $2 billion of committed capital under management. Lightspeed's investment professionals and advisors are located in Silicon Valley, China, India and Israel. Over the past two decades, the Lightspeed team has backed more than 150 companies, many of which have become leaders in their respective markets, including Blue Nile, Flixster, Ciena, DoubleClick, eHealth, Zynga, Rock You!, Openwave, and Waveset. For more information, visit www.lightspeedvp.com.
About Polaris Venture Partners
Polaris Venture Partners is a partnership of experienced investors, operating executives and entrepreneurs. The firm's mission is to identify and invest in seed, first round, and early stage technology and life science businesses with exceptional promise, and to assist them in growing into sustainable, market-leading companies. Polaris is based in Boston, with offices in San Francisco and Seattle, with assets over $3 billion under management, and current investments in more than 115 companies. For more information, visit www.polarisventures.com.
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