Fashion eTailer Raises New Round Of Financing

Personalized fashion e-tailer myShape.com has raised $10.5 million of a new $12 million round of financing, according to a regulatory filing last week.

Three years ago, the Pasadena-based company launched its personalized shopping service for women that matches clothing to very specific shapes and sizes. A patented matching engine literally shows a member only garments that fit and flatter them.

Last fall, the startup raised $12 million in funding from Lehman Brothers Venture Partners, Draper Fisher Jurvetson, and angel groups Pasadena Angels and Tech Coast Angels.

A company representative confirmed that this is a separate round, but would not provide additional details until a formal announcement is made. SocialTech.com first reported the news.

MyShape is competing in an increasingly crowded field of personalized fashion-oriented sites, including Polyvore, Fashion Playtes, StyleCaster and Stylefeeder.

To stay competitive, last year, the site added to the personalized shopping service a recommendation engine from Baynote that layers into the member's view items that other viewers of specific products have also considered.

According to Baynote and myShape, the result was a 16% lift in average order value, a 30% rise in revenue and a 200% lift in conversions.

Also, earlier this year, eHarmony chose myShape to be the exclusive fashion e-tailer for the dating site's Advice Date Planner service, which offers women their own "personal shop" with fashions from some 200 designers.

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