Southeast Asian online fashion retailer, Zilingo, has secured US$17 million in a Series B funding round, which was led by Sequioa Capital and Burda Principal Investments.
Tim Draper, founder of capital firm DFJ, also joined the round, along with Manik Arora, who founded IDG Ventures India.
Zilingo CEO, Ankiti Bose, said the fresh funds will be used to strengthen its business in Indonesia and increase its supply bases.
The company, which was launched in 2015, reported that its revenue has grown by tenfold in the last 12 months.
This is because it was able to onboard more than 5,000 fashion merchants that sell clothes, jewellery and beauty products in the same period. In addition, Zilingo now ships to eight countries across Asia, with seller hubs situated in Thailand, Indonesia, Hong Kong, Vietnam, Korea and Cambodia.
"Our focus on building an extensive seller ecosystem catering to fashion sellers across Asia makes us a favourite with thousands of private labels and merchants, who really are our growth engine," explained Bose.
Including the new funds, the company has raised US$27 million so far - it raised US$8 million last year and US$2 million in 2015.
Catering to milliennials
Most (85 percent) of Zilingo's customers are millennials, aged between 18 to 26 years old, who are individualistic and easily bored. To cater to them, Zilingo adds more than 60,000 styles every week, conduct trend-analysis and alter the content on its site based on users' preference.
It also provides its top sellers insights on upcoming trends so that merchants can display products in line with the latest fashion trends on their storefronts instead of outdated, dull and boring fashion statement pieces.
Besides that, Zilingo offers content via its video magazine, the CLoZet, on its website. This enables viewers to shop their favourite fashion products shown in the video within the video itself.
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