Stripes Group backs Refinery29 with $20m


fashion-model5_sqLifestyle media business Refinery29 has received $20m in Series C funding from growth investor Stripes Group.

The cash injection came nine month after the company raised a $5.6m Series B round from Floodgate, Lead Edge Capital, First Round Capital, Lerer Ventures and Hearst Corporation and brought its fundraising total to $30.40m.

Refinery29 said it would make major investments in technology including a “significant commitment” to personalization, a new mobile web and app experience, as well as enhance shopping and tools.

Stripes Group managing partner Dan Marriott said, “We have admired the Refinery29 team and story for more than a few years. When the opportunity to partner with the Refinery29 team presented itself, we couldn’t have been more excited.

“Refinery29 is built for this generation – this is an authentic brand truly poised for greatness. The site’s audience craves and connects with its content in a way that’s most meaningful for brands, leading users from an editorial experience to a shoppable one.

“We are looking forward to scaling its mobile and shopping platform, and continuing to build out its unique content lab to offer millennial women exactly what they’re looking for.”

Earlier this year Stripes bought a 27 per cent stake in London-based music group Audio Network, becoming its first institutional backer.

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