Moda Operandi, a US-based luxury e-commerce marketplace backed by media group Advance Publications and talent agency IMG, collected $100m in equity and debt financing on Friday.
The round was co-led by venture capital firm New Enterprise Associates (NEA) and Apax Digital Fund, a growth equity vehicle advised by private equity firm Apax Partners. It included financial services firm Comerica Bank, venture finance firm TriplePoint Capital, co-founder Lauren Santo Domingo’s family office and unnamed additional backers.
Moda Operandi did not specify a ratio between the equity and debt portions, but said it had now raised $345m in equity financing altogether. GCV records show the company had previously disclosed $297m in equity funding which would place the latest equity raise $48m.
Founded in 2010, Moda Operandi operates a luxury consumer goods e-commerce platform that features more than 1,000 brands and designers across fashion, jewellery and homeware. In addition to a curated selection of items, users can also pre-order clothes currently being shown on runways.
The funding will enable the company to further improve the user experience, invest in its shopping model and curation capabilities, and bolster its data and technology capabilities.
Moda Operandi secured $165m in a 2017 round co-led by Apax Digital, C Ventures and K11 Investment that also featured luxury consumer goods conglomerate LVMH, investment and financial services group Fidelity and NEA, valuing it at $650m post-money.
Fidelity had led the company’s $60m series E round in 2015 with contributions from Advance Publications and NEA. It had previously received $22m in series D funding from undisclosed existing backers the year before.
Advance Publications, LVMH and IMG had already backed a $36m series C round for Moda Operandi in 2012 together with NEA, RRE Ventures and New Atlantic Ventures.
