Funding round
Moda Operandi Growth
Reported as "Growth Equity"
Moda Operandi, which works in luxury fashion retail in New York, raised $165M in a Growth round announced on 6 Dec 2017, led by Apax Partners and Adrian Cheng. 7 firms took part, 1 of them already investors. It is Moda Operandi's third venture round on record; the one before was a Series E in Feb 2015.
$165M
Amount raised
Not disclosed
Post-money valuation
7
Investors
2 leads
Valuation
What this round says about the price
Moda Operandi did not disclose a valuation in this round. It came 34 months after Moda Operandi's Series E. It is 46% of the $361M Moda Operandi has raised in the venture rounds on record. Moda Operandi raised again 41 months later: a Series G round of $100M in May 2021, at $699M post-money.
Moda Operandi's funding rounds
Moda Operandi has 4 venture rounds on record and 1 other deal. This one is highlighted.
- Growth 8 Jun 2012, led by RRE $36M
- Series E 16 Feb 2015, led by Fidelity Investments $60M
- Growth this round 6 Dec 2017, led by Apax Partners and Adrian Cheng $165M
- Debt not a venture round 31 Jan 2020, led by Apax Partners $100M
- Series G 4 May 2021, led by Apax Partners and New Enterprise Associates $100M$699M post-money
Investors
Who put money in
Apax Partners and Adrian Cheng led the round with 5 other firms. Apax Partners had backed Moda Operandi before.
Lead investors
- backs 22 venture-backed companies existing investor
- Adrian Cheng new investor
Also in the round
- C Ventures new investor
- K11 Investment new investor
- LVMH new investor
- Fidelity new investor
- New Enterprise Associates backs 286 venture-backed companies new investor
Joined the board: Adrian Cheng.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Growth rounds in Clothing Stores:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Clothing Stores | 15 Jun 2018 | $82M | not disclosed | FSI Mid-Market Growth Equity Fund |
| Clothing Stores | 30 Jul 2018 | $8.7M | not disclosed | Middle East Venture Partners |
| Clothing Stores | 30 May 2017 | undisclosed | not disclosed | not named |
| Vestiaire Collective Clothing Stores | 24 Jan 2017 | $62M | not disclosed | Vitruvian Partners |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Moda Operandi raise in its Growth round?
Moda Operandi raised $165M in its Growth round, announced in Dec 2017.
Who led Moda Operandi's Growth round?
Apax Partners and Adrian Cheng led it, with C Ventures, K11 Investment, LVMH, Fidelity and New Enterprise Associates.
What was Moda Operandi's valuation at the Growth round?
It was not disclosed.
Did Moda Operandi raise again after this round?
Yes: a Series G round in May 2021 of $100M at $699M post-money.