Lingerie specialty store Adore Me said it closed $8.5 million in Series B financing, led by Upfront Ventures, Mousse Patners and Redhills Ventures.
Adore Me's financial advisors for the round include famous photographer Antoine Verglas and Fabrice Gridna.
After its launch in 2012, the company registered a month-compounded 40% growth. Its collections are also updated with new products each month, with an average cost of US $39.95 per matching set along with free shipping in the US.
Morgan Hermand-Waiche, CEO of Adore Me, said they found success in matching the model of Zara. "People are so tired of high prices and slow-fashion in the lingerie industry that we've been adored since day one," he said. As a result, it managed to ship its 100,000th shipment prior to its first anniversary.
The money will be used to create new products and improve its inventory, as well as finding ways to expand its customer base.
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