Singapore-based fashion social network Clozette announced its $3 million Series B funding today led by Phillip Private Equity with participation from existing investors including Walden International and angel investors.
The fashion social network has 300,000 members, mainly women from the Southeast Asia region and generates over eight million pageviews per month. Beside sharing their virtual closet and style, users on Clozette are also able to discover and shop from more than 3,500 brands which gives Clozette useful data on consumer trends in the fashion world.
Roger Yuen, founder and CEO at Clozette explained more on how the funds would be used:
We plan to use the funds to recruit more talents, accelerate our rapid growth and dominance in the social commerce space in Southeast Asia, and to build on our partnerships in Japan, Taiwan, and Indonesia.
Over the years, Clozette has partnered with several regional players including Rakuten, Zalora, Glam Media Japan, and InSing. It has worked with Singapore startup ViSenze to incorporate its visual search technology into its website.
In Indonesia, it has partnered with Female Daily to launch Clozette Daily, built for the local market. Prior to today’s funding, Clozette raised $1.8 million from Walden International back in May last year.
(Editing by Terence Lee)