US-based clothing rental service Le Tote secured $8.8m today in a series A round featuring Simon Venture Group, the corporate venturing arm of retail real estate company Simon Property Group.
Venture capital firm Azure Capital Partners led the round, which included Lerer Hippeau Ventures, AITV, Epic Ventures, Arsenal Venture Partners, Funders Club and angel investors Geoff Ralston, Justin Kan and Joanne Wilson.
Founded in 2012, Le Tote runs an online subscription-based service through which women can borrow high-fashion clothing.
The company, which claims to have grown its revenues by 600% over 2014, will use the cash to expand its offering and grow its infrastructure. It expects to increase its clothing shipments to customers from $15m last year to $75m over the course of 2015.
Le Tote has now raised $12.5m since it was formed. Google Ventures, the corporate venturing unit belonging to internet company Google, supported it at seed stage, along with Y Combinator, 500 Startups, Andreessen Horowitz, Lerer Ventures and a ange of angel investors.