Stylesight Raises $16 Million

Stylesight, a New York-based online provider of fashion information, has raised $16 million in Series A funding from Fidelity Ventures.

 

PRESS RELEASE

Stylesight ( www.stylesight.com ), the fashion industry’s premier style information service, today announced the completion of its Series A financing with Fidelity Ventures for $16 million of capital to help facilitate its international expansion. In connection with the financing, Larry Cheng, a partner at Fidelity Ventures, will join Stylesight’s board of directors.

Since its launch in 2004, Stylesight.com has dramatically improved the way fashion and style professionals work by simplifying their processes with its state-of-the-art online technology platform and unparalleled Trend forecasting and reporting. Stylesight’s world class information is supported by its advanced image search engine with more than 3 million fashion images.

“As one of the most recognized and respected venture funds in the world, Fidelity Ventures’ investment in Stylesight underscores their confidence in our growth and validates our tremendous momentum,” said Frank Bober, founder and CEO of Stylesight. “With their global reach, insight and experience, I am confident that Fidelity Ventures will be an incredibly valuable partner as we continue to grow our business and establish ourselves as the leading information and Software-as-a-Service (SaaS) provider within the style industry.”

The new financing will enable Stylesight to aggressively continue the global roll out of its business, with vastly expanded sales, marketing and client service teams. In addition, Stylesight will build upon its industry-leading commitment to technology and innovation by adding to its programming and R&D staff, and further develop its Fashion Office Trend teams to provide even deeper and more granular content for its growing subscriber base.

“Stylesight has become the premier information service company for the global fashion industry,” said Larry Cheng, Partner at Fidelity Ventures. “Stylesight’s product portfolio has a real ‘wow’ factor and is the must-have service for fashion retailers, manufacturers, designers and factories around the world. We are pleased to partner with Stylesight to help further their rapid growth and leadership position.”

About Stylesight
Stylesight is a leading provider of trend forecasting and product development tools for creative professionals in the fashion and style industries. The company is powered by an expansive library of inspiring images and a Fashion Office with an unparalleled ‘point of view’ on the industry. Its concise reporting and advanced technology tools consistently generate actionable results. Stylesight was founded in 2003 by apparel manufacturing industry veteran Frank Bober. The company is headquartered in New York, with offices in Los Angeles, London, Paris, Sao Paulo, Hong Kong, and Melbourne, and a global staff of trend-spotting correspondents. Stylesight’s subscribers include many of the leading retail and manufacturing companies worldwide. The company covers all the Women’s, Men’s & Children’s Fall / Spring Designer Collections in New York, London, Paris, Milan, Rio de Janeiro and Sao Paolo as well as Haute Couture Collections, Street, Vintage, Store Windows, Celebrity Fashions, Denim, Color, Trade Shows, Mood Galleries and Interiors. For more information, visit www.stylesight.com .

About Fidelity Ventures
Fidelity Ventures invests in companies ready to enter the market and those poised for the next phase of growth. Its 40-year track record includes hundreds of successful investments in the consumer, communications, systems and software markets. Fidelity Ventures is distinguished by the ability to accelerate market adoption for its portfolio companies’ offerings, and by a global network of senior technology and business executives. Fidelity Ventures actively manages over $800 million from offices in Boston and London. For more information, visit: www.fidelityventures.com .