The Country’s Fastest Growing Retailer Continues its Momentum With Series B Financing
Los Angeles, CA -- (SBWIRE) -- 08/27/2012 -- Nasty Gal, the global e-tailer for fashion-forward girls, today announced that Index Ventures has completed a $40 million Series B investment in the company out of its growth fund. Danny Rimer of Index Ventures has joined the company’s board.
The funding, which brings total investment to date in Nasty Gal close to $50 million, will allow Nasty Gal to further invest in technology, operations, manufacturing, and creative production as the company prepares to expand its global footprint. In addition, the company has opened a 500,000 square foot fulfillment center in Louisville, KY, and plans to move into 50,000 square feet of office space within the next six months.
"Until Nasty Gal, we hadn’t seen a fashion retailer with such a deep understanding of social commerce,” explains Danny Rimer, a Partner at Index Ventures. “Sophia Amoruso is a very talented and thoughtful leader, and is demonstrating a new way for retailers to communicate with their customers. We are very happy to further invest in Nasty Gal and we look forward to expanding the scope of what the company is able to accomplish."
Ranked number one as Inc. 5000’s fastest growing retailer in the country, Nasty Gal continues to rapidly expand its international cult following with more than 350,000 customers in over 60 countries, through its 470,000 Facebook fans, 57,000 Twitter followers, 321,000 Instagram followers, and a growing base of Pinterest users. The business has grown over 10,000% in the past three years.
Index Ventures has made similar growth-stage investments in companies including Net-a-Porter, ASOS, and Etsy.
“Funding from Index provides us with the opportunity to continue to grow Nasty Gal from the inside out,” said Sophia Amoruso, CEO and Founder of Nasty Gal. “We’re excited to continue to evolve the Nasty Gal experience. This funding gives us the ability to stretch creatively while continuing to explore new and unique ways to connect with our customers. Capturing the opportunity internationally is extremely important to us as we continue on this awesome trajectory.”
About Nasty Gal
Nasty Gal is the brainchild of Sophia Amoruso who started the company in 2006 on eBay selling one-of-a-kind vintage clothing. Sophia sourced, styled, shot, and shipped her sartorial pieces to tastemakers worldwide on her own. Amoruso was an early e-tail pioneer in the social media arena, using word-ofmouth and social platforms exclusively to build her brand and communicate with customers and fans. Nasty Gal has grown over 500% each year since its inception and counts over 350,000 customers in more than 60 countries with over 35% of sales occurring outside of the US. Today, Nasty Gal has over 470,000 Facebook fans, 57,000 Twitter followers, 321,000 Instagram followers, and a growing base of Pinterest users as part of their rapidly growing cult following.
About Index Ventures
Index loves fashion. In the last five years, Index has made venture, seed and growth investments in some of the most cutting-edge, emerging brands including ASOS [LSE], Astley Clarke, Editd, etsy, Farfetch, Go Try It On, Moleskine, Nasty Gal, Net-a-Porter [Richemont], Privalia and Stylistpick. From offices in Geneva, London, and San Francisco, Index loves to discover and support the most entrepreneurial teams, wherever they are, to build market defining global businesses.
For more information on these and other investments, please visit http://www.indexventures.com