Lingerie start-up Cuup closes on $11 million funding round
Direct-to-consumer intimates brand Cuup has closed an $11 million Series A investment led by Insight Partners, a global venture capital
and private equity firm.
The round, which included continued participation from Forerunner Ventures, Global Founders Capital, Lerer Hippeau Ventures, and Bullish, brings Cuup's total funding to $15 million.
The latest name in the world of intimates start-ups, Cuup was launched in November 2018 after founders Kearnon O’Molony, Abby Morgan, Lauren Caris Cohan and Chrisden Ferrari learned that a reported 75% of women are wearing the wrong bra size. Cuup focuses on creating everyday bras that fit each customer perfectly using extensive personal fit resources, including one-on-one video conferences and a team of fitting experts -- dubbed 'fit therapists' -- who can FaceTime with customers online or conduct in-person fittings.
The brand said it will use the new funds to build-out its fit capabilities, expand its team and increase its size offering, which already includes 40 sizes. In addition, the brand said it plans to add regional fit teams and invest in digital IP and educational fit content.
“Cuup is well positioned to continue to capitalize on our strong momentum, and build out our high quality product assortment, expanded fit capabilities and exceptional team,” said O’Molony, who acts as the brand's CEO.
Cuup's growth comes as direct-to-consumer lingerie brands like ThirdLove and SavagexFenty rapidly rise to the top of the intimates market, while former top dogs like Victoria's Secret struggle to keep up and connect with customers.
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