Social Commerce Jewelry Brand Chloe + Isabel Raises $15M in Series C Funding, Led by SoftBank Capital
New Funding to Fuel Expansion of Micro-Entrepreneurship Platform Overseas
NEW YORK, June 27, 2014-- New York-based social retail jewelry company Chloe + Isabel (www.chloeandisabel.com) announced that it has closed a $15 million Series C equity round to continue to provide an entrepreneurship opportunity through its social commerce platform. Led by SoftBank Capital, the round also included participation from existing investors General Catalyst Partners, First Round Capital, Forerunner Ventures, and Floodgate Fund.
Chloe + Isabel's socially-integrated e-commerce platform equips its sellers, known as merchandisers, with a customizable e-commerce "storefront". With over 4,500 merchandisers, Chloe + Isabel is creating a movement among entrepreneurially-minded women across the U.S. The company's proprietary technology provides its merchandisers with online and mobile tools to create, curate and power their own online boutiques, including sales and merchandising training, online marketing support, and the ability to manage their businesses real-time.
The company launched the business with its flagship jewelry line – designed and developed in-house at its headquarters in NYC – and successfully launched its first fragrance, Jardins du Midi, this past April. The recent funding will be used to fuel the company's growth and increase Chloe + Isabel's community of micro-entrepreneurs both domestically and internationally, as well as to further enhance product categories.
"Chloe + Isabel's innovative scalable tools and training offer a true social-selling experience and provide an entrepreneurial opportunity for today's woman," said Scarlett O'Sullivan, Partner at SoftBank Capital. "We were drawn to the merchandisers' stories and the way in which Chloe + Isabel's disruptive selling platform, customized marketplaces and high-quality products are impacting merchandisers' lives and allowing them to attain whichever goals they set for themselves. We see a vast opportunity to expand the brand and bring this unique social selling approach globally, and are excited to help the company navigate its entry into new markets overseas."
Chloe + Isabel's community of merchandisers, 75% of whom are under the age of thirty-five, is the lifeblood of the organization. Merchandisers join the opportunity to achieve personal goals ranging from earning supplemental income, to building their resume to land in retail jobs, to developing sales and leadership skills. Merchandisers can earn $50 to $400 per hour, with commissions ranging from 25% to 40%.
"We're building a global community and platform to arm our merchandisers with the best technology tools, retail training and education to maximize their growth and success as today's entrepreneurs," said Chantel Waterbury, Chloe + Isabel Founder and CEO. "SoftBank has tremendous global experience building high-growth businesses, and we look forward to partnering with them to extend our brand and provide the Chloe + Isabel opportunity to women everywhere."
ABOUT CHLOE + ISABEL
Chloe + Isabel is a New York-based, innovative social commerce jewelry company that empowers and connects women through their own social selling experience. Launched in 2011, the company has reinvented the direct sales model through technological innovation and social media integration geared to empowering the female entrepreneurs of today. For more information, visit http://www.chloeandisabel.com.
ABOUT SOFTBANK CAPITAL
SoftBank Capital makes early and growth stage investments in companies that connect people, devices and the world. SoftBank Capital invests in category leaders in consumer and enterprise mobile, online advertising, ecommerce, social media and cloud computing. We have been making investments since 1995, with recent exits including Bluefin Labs, Buddy Media, Hyperpublic, Huffington Post, OMGPOP, Pivot and ZipList. To learn more, visit http://www.softbank.com.
Moxie Communications Group on behalf of Chloe + Isabel
Chloe + Isabel
Venture Capital Database