Spring raises $65 million in Series C funding
New York City-based shopping app Spring announced on Thursday that it has raised $65 million in Series C funding lead by Fidelity Investments. Past investors Groupe Arnault, Thrive Capital, BoxGroup, and Yuri Milner, founder of DST Global, also took part in this round.
Founded in 2013 by venture capitalist David Tisch, Alan Tisch and Octavian Costache, Spring offers over 1,500 brands on its mobile e-commerce website, including Marc Jacobs, Michael Kors, 3.1 Phillip Lim, and Theory among others. The company also currently employs over 100 workers. The new Series C investment increases the company’s total raised funding to $105 million.
Spring plans to put its Series C funding towards team development, customer marketing and brand partnerships.
“In the face of challenging retail times, Spring has enjoyed record setting growth,” said Tisch. “Our mission continues to be to deliver the most personalized, convenient and inspirational shopping experience in partnership with our community of over 2,000 brands.”
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