Home / Knowledge / News / Retail / Hero generates $10m Series A funding

Hero generates $10m Series A funding

10
Aug '19
Pic: Hero
Pic: Hero
Hero, the platform which began its journey in London, has generated $10m Series A funding to invest in reinvention of retail. Led by S28 Capital in San Francisco, with participation from Vectr Ventures in Hong Kong and DIP Capital in London, the round also included investment from prominent strategic investors across retail and technology.

As part of the investment, Kent Ho, founder and general partner at S28 Capital, joins Hero’s board of directors. They will join existing investors including Yasunobu Kyogoku, former chief investment officer of Fast Retailing and founding partner of Innovation Global Capital; Iain McDonald, non-executive director of boohoo.com and The Hut Group; and the family office of Dickson Poon, chairman of luxury department store Harvey Nichols and Dickson Concepts.

“Brick-and-mortar is the new battleground, as proven by the expansion in to physical stores by Amazon and a slew of DTC brands including Warby Parker, Glossier and Casper,” Hero founder Adam Levene said in a blog.

“However, to find sustained growth, modern stores must be digitally-enabled; to sell online, to motivate staff with new compensation models, to locate and deliver stock faster, to build a 360 view of the customer, to enable effortless payment and seamless returns, to nurture client relationships through clienteling and to ensure that every single conversation — whether in-store or in person — turns into a sale,” Levene said.

“This round of investment will fuel the creation of new innovation that accelerates this digital transformation, while marking our dedication to building a global company that enables our retail partners to thrive in the long-term — maximising what has always been the physical store’s most unique advantage; the ability to build human connections, now in new ways,” Levene added.

From customers looking to buy gifts for loved ones, getting expert beauty tips online, renovating a new home, buying their first prom suit or making shopping more DDA friendly— Hero empowers deeply personal interactions across the globe.

“Reflecting back on our three year journey and all that we have achieved to-date, it’s probably what we’re most proud of — bringing the humanity back to commerce. All while making global retail more efficient, effective and personal than it’s ever been,” Levene said.

Hero started its journey in London with one of the most admired department stores in the world, Harvey Nichols, empowering hundreds of their associates to sell and earn digitally, in the same way they do with customers in store. “We soon rapidly expanded; forging partnerships with the largest retail groups in the world including Nike, LVMH, Richemont, Levi’s and Gap, along with upstarts like Credo Beauty, the fastest growing clean beauty retailer in the US,” Levene said. (SV)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 24th Aug 2019

US firms told to leave PRC after tariff hike announcement

China on August 23 announced tariff hikes on $75 billion worth US...

Finance minister Nirmala Sitharaman addressing a press conference. Pic: PIB

Textiles | On 24th Aug 2019

Pending GST refunds for MSMEs within 30 days: Indian FM

All pending goods and services tax (GST) refunds that are due to...

Pic: Shutterstock

Retail | On 24th Aug 2019

Amazon to acquire 49% stake in India’s Future Coupons

US e-commerce company Amazon has agreed to make an equity investment...

Interviews View All

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Stefan Warnaar, Peak to Plateau

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Top executives, Textile industry

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Rajat Jaipuria,

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Harsh Shah,

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

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

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2019

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

news category


Related Categories:

Advanced Search