Touch Of Modern Raises $3 Million

Posted Jul 12, 2013


Touch Of Modern
has fixed their legal differences with Fab.com.  The company has raised $3 million in a new round of funding.  Fab.com claimed that Touch of Modern copied their design in August 2012.

According to VentureBeat, Fab.com looked at Touch of Modern’s traffic logs and said that the Touch of Modern team visited their website “10, 20, 40, 50 times.”  Touch of Modern said that it is not illegal to visit a website.

Touch of Modern is already profitable.  They hit profitability in seven months after launching.  The company’s membership has increased 300 percent since the 2012 launch.

Touch of Modern plans on using the funding to develop an app for tablets.  Around 30% of Touch of Modern’s consumers buy items on mobile devices.  Floodgate Fund led this round of funding with participation from existing investor Hillsven Capital.