Refinery29, a US-based fashion, lifestyle and shopping website, has raised $20m in a series C round of funding from growth equity firm Stripes Group,
The C funding brings Refinery29’s total funding since inception to $30.4m. Prior to this round, the company raised $5.6m in a series B round in January 2013 from media group Hearst Corporation and venture capital firms Floodgate, Lead Edge Capital, First Round Capital and Lerer Ventures.
Philippe von Borries, co-founder and co-chief executive officer of Refinery29, said: “With Stripes Group, we saw a partner who deeply shared our vision for a next generation media brand and brings a wealth of knowledge in scaling digital consumer companies.”
Refinery29 will expand its programming initiatives into video and across new categories—including beauty, wellness/health, entertainment and home. The company will also be making a major investment in technology, including personalization and a new mobile web and app experience.
Dan Marriott, managing partner of Stripes Group, who joins Refinery29’s board of directors, said: “Refinery29 is built for this generation – this is an authentic brand truly poised for greatness. The site’s audience craves and connects with its content in a way that’s most meaningful for brands, leading users from an editorial experience to a shoppable one. We are looking forward to scaling its mobile and shopping platform, and continuing to build out its unique content lab to offer millennial women exactly what they’re looking for.”
Refinery29 was launched in 2005