Fashion Discovery Company Moda Operandi Closes $100 Million

By Amit Chowdhry ● January 31, 2020
  • Moda Operandi, a leading platform for fashion discovery, announced it raised $100 million in new equity and debt financing

Moda Operandi — a leading platform for fashion discovery — announced it raised $100 million in new equity and debt financing led by existing investors New Enterprise Associates and the Apax Digital Fund with additional participation from the Santo Domingo family, Comerica Bank, and TriplePoint Capital.

With this round of funding, Moda will continue to invest in its core client experience, innovative shopping model, curation of fashion, fine jewelry, and home decor, and the data and technology systems that powers their platform.

“For the past nine years, Moda has disrupted the way people shop for luxury fashion,” said Moda Operandi CEO Ganesh Srivats. “This investment will enable us to build on that innovation, investing further in the client and designer experience and connecting more of the world’s best fashion to more people.” 

What does Moda Operandi do? Moda Operandi is an e-commerce platform that transforms the way people discover and shop for designer fashion. And through its innovative mix of commerce and content, Moda enables women and men to shop for what’s new and what’s next in designer fashion from the world’s leading emerging designers and luxury brands.

“We continue to be impressed with the power of Moda’s brand and its positioning in the luxury market. Moda has been enhancing its technology capabilities as a world-leading platform for fashion discovery and is led by a world-class team. We look forward to continuing to support their expansion,” added Apax Digital managing partner Dan O’Keefe.

Launched in 2010, Moda Operandi is on a mission to make it easy for designers to grow their businesses and consumers to realize their personal style. And now Moda’s platform carries over 1,000 brands and designers across fashion, fine jewelry and home, and ships to 125 countries. Including this round of funding, Moda Operandi has raised a total of $345 million.

“Moda Operandi has really disrupted the traditional e-commerce model, using technology to give people unprecedented access to fashion,” explained Tony Florence, General Partner at New Enterprise Associates. “It was a really big idea when we led the Series A, and today Ganesh and the team are executing on that data-enabled retail model at scale. We are thrilled to continue supporting the company in this latest round.”