Venture Capital News: CakeStyle Secures $1M
2012-08-14
CHICAGO, IL, Virtual styling service that sends boxes of high-end clothing and accessories to women’s doorsteps, announced the closing of its seed round funding of $1 million.
CakeStyle, a virtual styling service that sends boxes of high-end clothing and accessories to women's doorsteps, announced the closing of its seed round funding of $1 million led by Sandbox Industries' Sandbox Advantage Fund.
CakeStyle, founded in August 2011, takes the hassle out of shopping by providing virtual styling services to busy women who don't have time to shop but want to look stylish or professional every day. The way it works is simple: after a brief consultation with a stylist over the phone or online, women receive a box of handpicked clothing and accessories straight to their doors - along with a personalized video explaining each look. Clients keep what they love and send back the rest, paying only for the items they keep.
"Our goal is to help women stay stylish while sparing them the hassle of shopping," said CakeStyle CEO and Co-Founder Cecelia Myers. "This round of financing will help us achieve this goal for more women across the country."
Sandbox Industries Managing Director and CakeStyle Co-Founder Millie Tadewaldt believes that CakeStyle makes an exciting investment because virtual personal styling is a space that badly needs filling.
"Many women don't have time to shop for clothes or don't enjoy the process," said Tadewaldt. "But CakeStyle makes it possible for women to receive personal styling at home, with no inconvenience or added cost, making the service a major value-add for our customers."
CakeStyle will use the proceeds of this financing to grow brand awareness and to bring their innovative service to more women across the country.
About CakeStyle
Based in Chicago, Illinois, CakeStyle (www.cakestyle.com) was founded in 2011 to help women who don't enjoy or don't have time to shop. CakeStyle takes each client's fit and wardrobe needs and pulls four to six looks for her each season, which are sent to her door along with a custom video explaining how to wear each outfit. The company also sends boxes on demand for special occasions.
About Sandbox Industries
Sandbox Industries (www.sandboxindustries.com) is a Chicago-based venture capital firm and startup foundry that builds and grows new businesses internally. In addition to CakeStyle, Sandbox has founded Marbles: The Brain Store (www.marblesthebrainstore.com), Lab42 (www.lab42.com), and doggyloot (www.doggyloot.com).
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