Clique Media Group Snags $15M
LOS ANGELES, CA, Clique Media Group (CMG), a global media, marketing, and consumer brands company, today announced its $15M Series C round led by Greycroft and e.ventures.
CMG will use the new funds to build out its consumer products division as well as further expand its editorial properties and in-house creative offerings for advertisers.
The round includes participation from Amazon, Bertelsmann Digital Media Investments, and other existing investors. WndrCo and LionTree are participating in the round as first-time investors. This brings the company's total funding to almost $28 million since its initial seed round in 2012.
"Over the past 11 years, we have evolved from a single fashion website to a portfolio of brands that combines the power of data science with editorial intelligence to create shoppable content and products that millennial women and Gen Z girls crave," said Katherine Power, co-founder and CEO of CMG. "We're excited to have the backing of partners that value digital companies, technology, and consumer brands."
CMG has always lived at the intersection of shoppable content and commerce. Last year alone, CMG launched its first clothing, shoes, and accessories line exclusively with Target; acquired CollegeFashionista and launched Obsessee to dedicate more content creation to the Gen Z community; expanded Who What Wear and Byrdie internationally; and most recently launched its first shopping app, SHOP/Who What Wear.
"We're thrilled to watch CMG go from Who What Wear to a multi-faceted digital powerhouse," said Dana Settle, Co-Founder at Greycroft. "CMG is at the forefront of the elusive content and commerce intersection and is providing its 30mm+ and growing audience with the products they are seeking, where, when and how they are seeking them. Through our various funds, including our most recent Greycroft Growth Fund, we're able to be stage agnostic and really support companies like CMG from their seed round through each stage of growth."
"CMG has grown tremendously over the last year, expanding beyond media to become a force in retail," said Mathias Schilling, general partner of e.ventures. "We're excited to be part of the company's continued expansion."
CMG, recently named to Fast Company's Most Innovative Companies list, was founded by Power and Hillary Kerr in 2006 with the launch of their flagship site, Who What Wear. The company has increased its employee base by 57% in the last year and has seen 100% YOY revenue growth for the past three years. Power has served as CEO since 2014, and Kerr currently acts as chief ideation officer.
For more information about CMG, please visit www.cmginc.com.
Recently named to Fast Company's list for the World's Most Innovative Companies in 2017, CMG is a global media, marketing, and consumer brands company. Through its brands -- Who What Wear, MyDomaine, Byrdie, CollegeFashionista, THE/THIRTY, and Obsessee -- CMG combines the power of data science with its expert editorial team to create content and products that millennial women and Gen Z girls crave. CMG's two key marketing offerings, CMG Studios (an in-house creative agency) and INF Network (representing 55+ top bloggers and influencers), deliver integrated and native advertising programs, all while inspiring consumers to discover and shop. In early 2016, CMG launched its first clothing, shoes, and accessories line exclusively at Target under the Who What Wear brand, and it continues to be a top performer for the mega-retailer.
Greycroft is a leading venture capital firm focused on investments in the internet and mobile markets. With offices in the two media capitals of the world -- New York and Los Angeles -- the firm is uniquely positioned to serve entrepreneurs who have chosen Greycroft as their partners. Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, bring their products to market, and build successful businesses. Greycroft manages in excess of $1 billion and has made over 150 investments since inception, in leading companies including Acorns, App Annie, Boxed, Braintree, Buddy Media, Everything But The House, Extreme Reach, Huffington Post, Icertis, JW Player, Maker Studios, Plated, Scopely, Shipt, TheRealReal, Thrive Market, Trunk Club, Venmo, WideOrbit, and Yeakha. For more information, please visit http://www.greycroft.com/.
Founded in 1998, e.ventures is a leading venture capital fund, powered by a global network of experienced investors and ambitious entrepreneurs. Headquartered in San Francisco and Berlin, with emerging market partners in Brazil, China, and Japan, the firm invests out of dedicated funds in five geographies and combines a global investment strategy and philosophy with local presence and insights. Focused exclusively at the intersection of consumer internet, the consumerization of the enterprise, media, and mobile, e.ventures partners with daring founders to disrupt global markets and build category creating companies across early and growth stages. Historical investments include AppFolio (NASDAQ: APPF), Angie's List (NASDAQ: ANGI), BlueKai (acq. Oracle), GotoMyPC (acq. Citrix), Groupon (NASDAQ: GRPN), Shopping.com (acq. eBay), Sonos, Yume (NYSE: YUME), among others. A selection of current investments includes Acorns, Deposit Solutions, Farfetch, GoPuff, NGINX, Segment, Shipt, The RealReal, Verse, and When I Work.
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