Home / Knowledge / News / Announcement / Finery generates $5 million seed funding
Finery generates $5 million seed funding
Jan '18
Courtesy: Finery
Courtesy: Finery
Finery, the first automated online wardrobe platform with predictive analytics for styling and shopping, has raised $5 million in seed funding. Funds from this round will be used to grow the company’s team of developers and data scientists. The company is founded by CEO Whitney Casey and Brooklyn Decker acts as the company’s chief design officer.

The seed round was led by NEA with participation from Farfetch, BBG Ventures, Adrian Cheng through C Ventures, Correlation Ventures, Next Coast Ventures, Halogen Ventures, RetailMeNot founder & CEO Cotter Cunningham and TheSkimm founders, Carly Zakin and Danielle Weisberg.

With a proprietary, automated backend process, Finery integrates seamlessly with a user’s shopping history and purchase patterns, optimising the second most valuable room in the home - a woman’s closet. Since launch, the platform has garnered more than 100,000 users.

Finery is taking a technology-first approach to fashion, retail and a woman’s personal wardrobe, a space typically dominated solely by e-commerce. The consumer-facing platform allows women to shop across any brand or retailer and see all their purchases instantly in one place. From here, Finery helps generate styled looks from the items users have already purchased and is building highly personalised shopping recommendation processes based on what each user already owns, reducing redundancies.

Finery ‘s proprietary technology acts as a consumer advocate, empowering women to own their information on wardrobe spending and use it to their benefit by making more informed decisions about how they budget their time and money.

To further help women shop smarter, the platform’s management technology detects recent purchases, providing alerts when an item’s return window is about to expire, while also monitoring for potential price adjustments. In addition, the platform notifies users when items they have been looking to buy go on sale.

“With thoughtful investors from both tech and fashion by our side, we’re committed to building out the most powerful set of software tools that are easy to use and invaluable to savvy female consumers - the kind of technology that makes women smarter about how they spend their money, style themselves and shop everyday,” said Whitney Casey, co-founder and CEO of Finery. “We are the first consumer facing, apparel based data company to capture and understand these deep insights and then seamlessly put that powerful information directly to work for the women that data belongs to. We don’t want to sell women more ‘stuff,’ we want to help them to wear the things they already own, potentially monetise their closets and then give them tools to shop more strategically.”

“The team at Finery is creating a completely connected closet platform, closing the retail loop from purchase to recommerce,” said Tony Florence, general partner at New Enterprise Associates (NEA). “They’ve built a powerful algorithm that combines inventory management, styling, purchasing and accessibility to help an individual manage her wardrobe. The technology is unique in that it’s the first time we can understand the entire lifecycle of a wardrobe, from purchase, to usage, to the day it either gets retired or resold.”

This round of investors joins Finery ‘s founding angel investors, including Brooklyn Decker and Andy Roddick, former professional tennis player; Miroslava Duma, founder and CEO of Fashion Tech Lab; and Nasiba Adilova, co-founder of The Tot. (SV)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: European Commission/European Union

Textiles | On 26th May 2018

EU set to negotiate FTAs with Australia & New Zealand

The European Union is all set to begin negotiations for free trade...

US bans import of cotton goods from Turkmenistan

Textiles | On 26th May 2018

US bans import of cotton goods from Turkmenistan

The US Customs and Border Protection (CBP) has issued a Withhold...

FPCCI prepares report on Pakistan's export issues

Textiles | On 26th May 2018

FPCCI prepares report on Pakistan's export issues

Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Top executives
Textile industry

GST has levelled the playing field to an extent

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Urmil Arya

Sushila International, a well established textile organisation established ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search