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MyShape Raises Additional $10M, Adds New Features

Submitted by Tim Schulz on August 27, 2009 – Comments

myshape MyShape, the Pasadena-based personalized fashion retailer run by Louise Wannier, has raised $10.5M in equity funding.

MyShape.com is basically an automated, internet-based fashion consultant. Users enter their personal measurements, body shape and style preferences, and the system recommends clothing based on this data. No dressing rooms, no long lines, etc. MyShape reports that they recently relaunched the website with new socialized shopping features, measurement systems, and various other features. The site has a video explains their service.

The filing says the fundraising is part of a nearly $12.1M round and the company is already backed by a list of blue-chip firms: Draper Fisher Jurvetson (who led this new round), Lehman Brothers Venture Partners, the Pasadena Angels, and the Tech Coast Angels. Update: Barry Schuler, managing director of DJF Growth Fund, has joined the board.

What is most surprising is that their monthly-unique visitor count is only at ~200k (via Compete.com). With the amount of funding they’ve raised it must mean that either MyShape has bright prospects on the horizon, or they’re pulling in a lot of revenue already. And it would be no surprise. After adding a dress, handbag, and necklace to the shopping cart, the price came to over $1,300.

Insight from Compete shows the company is still in customer acquisition and growth mode:

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