JustFab, a membership site has a unique history, and the funding is just as unique. This e-commerce giant, founded by Adam Goldenberg and Don Ressler is nothing less than a phenomenon in the fashion industry. This global membership company is just what the fashionista ordered, but the small beginnings grew into something much bigger with the right fundraising. Starting in 2011, when Ressler and Goldenberg were working with Matrix Partners, more than $33 million had been raised, and that’s a pretty figure. Those two were the investors, and they were confident enough to put their own funds behind it. That speaks volumes about their passion and drive to see the company succeed.
In July 2012, Rho Capital Partners, with four investors involved gave more than $75 million to the entrepreneurs, and soon more changes were made to the company as well as the vision and long-term mission. This large sum of money would allow them to not only re-brand, but to build upon numerous brands in an attempt to broaden their horizons. They could offer more than just women’s apparel, and the consideration was made for a brand that would be for children as well as other options for men too.
Later in 2013 more funds were given, all from Shining Capital. There were two occasions in which money was raised, totaling a large sum of money. With more than $54 million raised with this company, the two partners were well on their way to making big changes in the e-commerce world as well as fashion.
The company was noted for financing debt in 2014, and while not unusual, it was a time of reconsideration for Ressler and his partner. They were considering what else they could do in order to be top-notch, providing the best in products and customer service. The VIP membership would be the ultimate tool to seal the deal on customer loyalty, and it would ensure that they had a massive following as well.
Passport Capital gave $85 million to the group in 2014, and since that time the company has continued to excel at what they do best. They have made the change to all-inclusive brands in order to reflect the companies core values. Ressler and Goldenberg are both thrilled with the change. They believe that allowing all women to feel beautiful is important, and with that in mind, TechStyle has turned e-commerce on its head and is getting consumers attention around the world.