Stylesight Raises $10 Million in Funding from Volition Capital and Cue Ball Capital
Stylesight, New York, the leading global provider of trend content, tools and technology for the fashion and style industries, announced it has closed a $10 million equity investment to fuel its ongoing growth and global expansion. The investment was provided by Volition Capital, a growth equity firm formed by the U.S. team of Fidelity Ventures and Cue Ball Capital. In conjunction with the financing, Richard J. Harrington, chairman and general partner of Cue Ball Capital, and retired CEO of The Thomson Corporation (now Thomson Reuters), will join Stylesight's board of directors.
"Volition Capital and Cue Ball Capital's investments in Stylesight underscores their confidence in our growth, and validates our ongoing momentum," said Frank Bober, founder and CEO of Stylesight. "Volition has been a great partner since their initial investment in 2008 and we're excited with the addition of Cue Ball Capital and their unique approach to working with their investment partners."
With this additional funding, the company is well-poised to accelerate its rapid growth. Stylesight's strong heritage of product innovation, unparalleled customer service and best-in-class content will benefit significantly from this additional funding. Stylesight.com provides trend content and Software-as-a-Service (SaaS) designer tools, and is the only such service available in Chinese, Japanese, Spanish and English translations. Stylesight offers its global subscribers the ability to intercept, interpret and transmit the impulses of the style industry through its timely, relative trend content and state-of-the-art technology.
"Stylesight has proven itself to be the premier information service for the global fashion industry," said Larry Cheng, managing partner, Volition Capital. "Their product portfolio is unmatched; the must-have trend service for retailers, manufacturers, designers and factories worldwide. We are pleased to assist Stylesight in their ongoing rapid growth in the fashion and style industry."
Stylesight's newest board member, Richard J. Harrington, is a renowned industry leader in the information media world. Prior to co-founding Cue Ball Capital, Harrington served as CEO of The Thomson Corporation, and led its transformation into the world's largest information services firm. Under his tenure, the business saw its market capitalization nearly quadruple. Harrington brings this deep experience to the Stylesight board, and joins current board members, Larry Cheng of Volition Capital and David Bell of Pegasus Capital Advisors. In addition to Stylesight and other privately held companies, Harrington serves on the Board of Directors for Xerox Corporation and Aetna.
"We are extremely excited to be partnering with Stylesight and Volition Capital. Stylesight has that rare combination of inspiring innovation and sound business model fundamentals," noted Harrington. "Stylesight fits squarely with Cue Ball's focus on recurring revenue business models and differentiated intellectual capital. I am proud to be joining its board and supporting its continued growth."
For more information on Stylesight, visit www.stylesight.com.