Moda Operandi, an online marketplace of right-off-the-runway luxury fashion, accessories and home decor, announced that the company has raised $100 million. The company plans to utilise funds to invest in its platform and technology as well as to continue growing business overall. Founded in 2010, Moda Operandi offers products from some 1,000 brands and designers and ships to 125 countries.
“For the past eight years, Moda has disrupted the way people shop for luxury fashion,” said Moda Operandi CEO Ganesh Srivats in a statement. “This investment will enable us to build on that innovation, investing further in the client and designer experience and connecting more of the world’s best fashion to more people.”
The funding is co-led by NEA and Apax Partners, both previous investors in Moda Operandi, with participation also from the Santo Domingo family (connected to Lauren Santo Domingo, who co-founded Moda with Aslaug Magnusdottir), Comerica Bank, TriplePoint Capital and other unnamed investors.
As per a media report, Moda Operandi had a post-money valuation of $650 million in 2017, according to data from PitchBook. The company has raised $345 million to date.
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