Ex-KPCB partner Chien’s new firm Goodwater leads Series B for menswear site

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suit-and-tie-616427-mGoodwater Capital has led a $15m Series B funding round for menswear retailer Frank & Oak.

Greenoaks Capital and Investment Quebec also invested in the company for the first time while a string of venture capital firms re-upped in the investment round.

With the newly-raised capital, Frank & Oak said it will expand its operations with a new office in New York.

The company is also planning to further invest in new product categories and cross-channel technologies.

Frank & Oak was founded with the mission to create a “lifestyle brand for the creative class” and uses technology and data in a bid to deliver content-driven shopping experiences to its customers.

Goodwater Capital co-founder and managing partner Chi-Hua Chien said, “It’s been a pleasure watching the brand grow, seamlessly conquering every experience across web, mobile and the physical world.

“We recognise Frank & Oak’s huge potential, and we’re excited to be part of its journey ahead.”

California-based Goodwater Capital registered its plans to raise a $120m venture capital fund in a filing posted with the US securities regulator in June this year.

Founder Chien was previously partner at venture capital giant Kleiner Perkins Caulfield & Byers.

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