Retail

Hero generates $10m Series A funding

10 Aug '19

3 min read

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