FabFitFun, a Los Angeles-based lifestyle membership and subscription commerce company, announced it has raised $80 million in Series A funding led by Kleiner Perkins. Existing investors New Enterprise Associates and Upfront Ventures also participated in this round.
FabFitFun’s flagship product is known as the FabFitFun Box. The FabFitFun Box includes a curated collection of full-size products across beauty, fashion, fitness, technology, and wellness to more than one million members each season. Plus FabFitFun members also receive access to the FabFitFunTV streaming video service featuring on-demand wellness videos.
With this funding round, FabFitFun is planning to expand its membership offerings and evolve the platform as a marketing partner and launchpad for brands. Plus it will fuel the company’s continued global expansion. In conjunction with this funding round, Kleiner Perkins General Partners Mood Rowghani and Mary Meeker are joining as a board member and board observer, respectively.
Launched in 2010 by Co-CEOs Daniel Broukhim and Michael Broukhim and Editor-in-Chief Katie Rosen Kitchens, FabFitFun has grown from a newsletter and blog to an expansive lifestyle membership with over one million members around the world. This growth was driven by FabFitFun’s retail engagement platform, which enables consumers to discover and learn about beauty, fashion, and fitness products. And FabFitFun members receive offerings every season that are customized based on their personal preferences and at better values compared to retail.
“Our mission is to inspire happiness and well-being, and we hear from our members every day about how we’ve done that and so much more,” said FabFitFun co-founder and co-CEO Daniel Broukhim in a statement. “People from all over the world come to FabFitFun to discover new products and they remain engaged because of our interactive community and one-of-a-kind experiences.”
FabFitFun also provides brands with new methods to discover and engage with their audiences. Every season, FabFitFun designs customized programs for its partners such as access to celebrity/influencer networks and curated product events. These initiatives have generated hundreds of millions of targeted impressions and allow brands to develop more intimate and enduring touchpoints with end users.
“FabFitFun has emerged into an exciting and entirely new distribution channel that brings retail to the platforms where consumers are most engaged,” added Rowghani. “The company’s personalized connection with its community allows brands to better understand and interact with consumers – establishing a long-term relationship rather than simply a transaction.”
According to Crunchbase, FabFitFun hit $200 million in revenue last year. And the company grew from 220 employees in the first quarter of last year to about 400 now.
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