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"We continue to be impressed with the power of Moda's brand and its positioning in the luxury market, " said Dan O'Keefe, managing partner of Apax Digital, in a statement. "Moda has been enhancing its technology capabilities as a world leading platform for fashion discovery and is led by a world-class team. We look forward to continuing to support their expansion. " "Moda Operandi has really disrupted the traditional ecommerce model, using technology to give people unprecedented access to fashion, " added Tony Florence, general partner and head of technology investing at NEA, in a statement. "It was a really big idea when we led the Series A, and today Ganesh and the team are executing on that data-enabled retail model at scale. We are thrilled to continue supporting the company in this latest round. "
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Moda Operandi was her solution — a platform to broaden that out, giving access to a full trunkshows (as the runway collections are called) to a wider selection of possible buyers and improving revenues for designers and brands in the process, as they no longer had to rely just on more traditional channels, namely buyers for retailers. The site had some catches — for example, as we pointed out at the time, you could shop a runway look, but still had to wait months for the piece to actually arrive, as those items would have yet to be made; but it caught on with a loyal following. Over the years, the site's basic remit has expanded, covering not only runway collections but also extending into jewelry, accessories and home decor. (We asked what size the business is today, and whether Moda Operandi can share any details on how that has changed over time, but a spokesperson said the company would not be sharing these or other financial details today. ) In any case, it has remained a compelling enough business to have brought in a hefty round of growth funding from its previous backers.
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- Moda Operandi, an online marketplace for high-end fashion, raises $100M led by NEA and Apax – TechCrunch
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