The round also included participation from Bertelsmann Digital Media Investment and Rho Canada Ventures and a follow-on investment from Real Ventures.
Frank & Oak said it will use the financing to deepen its personalised shopping experience for men, add to its team and expand the range of clothing and lifestyle products offered.
Co-founders Ethan Song and Hicham Ratnani started Frank & Oak in February this year with the mission of making shopping easy for men.
The site, which offers a personalised shopping experience for men with a line of fashions delivered to customers’ doors, has experienced double-digit, month-over-month growth since its launch.
Lightbank’s Vicki Levine will join the board of directors, which already includes co-founders Song and Ratnani and Real Ventures general partner Mark Macleod.
“Men want to look great, but they also want it to be easy and accessible, so we created Frank & Oak to solve both problems and turn the way guys shop on its head,” said Song.
“We aim to do more than just build a successful business—we are redefining the way men shop for clothes by providing targeted content and personalised recommendations.
“At Frank & Oak, we don’t overwhelm you with endless options. We show you a handful of carefully selected styles that we know you’re going to like.”
Lightbank principal Vicki Levine added, “With a menswear market of $112bn in North America and an increasing shift from traditional retail to vertically integrated e-commerce, Frank & Oak is well-positioned to change the shopping paradigm for the next generation of male shoppers.”
Copyright © 2012 AltAssets