US-based customised footwear manufacturer Shoes of Prey received $15.5m in series B funding yesterday from backers including fashion retailer Nordstrom.
Investment fund BlueSky Venture Capital led the round and was joined by venture capital firms Greycroft Partners and Khosla Ventures. BlueSky Venture Capital, a subsidiary of Australia-based alternative asset manager BlueSky Funds, is currently raising a new $200m fund, according to The Australian.
Founded in 2009, Shoes of Prey allows customers to design their own shoes online, choosing from a range of options including style, heel height, material, colour, size and width. The company claims it has produced more than five million shoes to date.
The money will help Shoes of Prey to expand, increasing production capacity at its China-situated factory, growing its team and launching new products, beginning with handbags.
Nordstrom’s commitment follows a partnership between the two companies that began earlier this year when Shoes of Prey launched physical design studios in six Nordstrom shops in the US. They have now extended that agreement to make the service available on Nordstrom’s website.
Shoes of Prey has raised $24.6m to date, it said in a statement. Khosla Ventures led the $5.5m extension for an $8.5m series A round that closed in December 2014, with participation from private investors Andy Dunn, Heidi Zak and Dave Spector.
The company secured an initial $3m in 2012 from CrunchFund, a VC firm backed by mass media company AOL, as well as Bill Tai and Mike Cannon-Brookes. Shoes of Prey had been bootstrapped up until its series A round.