Personalized kids retailer Kidbox has secured US$15.3 million in Series B funding in a round led by California-based venture capital firm Canvas Ventures (with participation from existing investors Firstime Ventures and HDS Capital).
New strategic partners include Fred Langhammer (former CEO of The Estée Lauder Companies) and The Gindi Family (Century 21 department stores). The new capital infusion—which brings the total amount raised to US$28 million since Kidbox’s 2016 launch—will be used to further expand the company’s data science team and ramp up customer acquisition.
The online retailer lets families try clothes on at home and pay only for the pieces they choose to keep. This model leverages data and machine learning, with stylists curating a box full of personalized apparel items for kids up to size 14.
In Q1 2018, Kidbox’s customer base tripled compared to the same period in 2017. To date, the Kidbox community includes more than 1.2 million families and 100 brand partners, including Adidas, Puma, 7 For All Mankind, Diesel, DKNY, Splendid and Jessica Simpson.
Kidbox is also focused on its social mission to clothe one million children in need. For each seasonal box sold, the retailer donates an item of clothing and, to date, US$3.9 million in apparel has been donated through a partnership with Delivering Good.