Business, Investments

Online Retailer Bonobos Secures USD 55M for Offline Expansion

New-York-based e-commerce retailer, Bonobos has raised USD 55 million in Series D round led by Coppel Capital. The other investors Nordstrom, Mousse Partners, Accel Partners, Lightspeed Venture Partners, Glynn Capital Management, Forerunner Ventures and Felicis Ventures were also participated in the round.

The company aims to utilize the raised funds to expand its offline presence as well as to provide new offerings to existing customers. recently, it had launched ‘Guideshops’ in Los-Angeles including 10 physical locations around the U.S.

Also Read: Yik Yak Grabs USD 10 million from DCm & Others

Bonobos is also planning to open 30 more ‘Guideshops’ nationwide where customers can try on its clothes before they buy them with a personalized shopping experience. Bonobossaid that,”in-store transactions are double the average order value online.”

Launched in 2007 by CEO Andy Dunn and CFO Bryan Wolff. The company had raised a total funding of USD 127.6 million including latest round. In 2012, Bonobos partnered with Nordstrom bringing Bonobos apparel into select doors nationwide along with 

Bonobos was named “One of America’s Hottest Brands” by Advertising Age, “Best Men’s Pants” by New York Magazine, one of Inc. Magazine’s “20 Awesome Facebook Pages” and was awarded Crain’s “Best Places to Work in New York City” in 2011 and 2013. 

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