Fashion Site Moda Operandi Raises $100 Million

NEW YORK — Moda Operandi, a high-end fashion site featuring products from over 1,000 brands, has raised $100 million in new equity and debt financing, led by existing investors New Enterprise Associates, Inc. (NEA) and the Apax Digital Fund, with additional participation from the Santo Domingo family, Comerica Bank and TriplePoint Capital, among others.

Moda Operandi has now raised $345 million to date.

Moda’s platform carries more than 1,000 brands and designers across fashion, fine jewelry and home, and ships to 125 countries.

Moda will use the new funds to invest in its core client experience, innovative shopping model, unique curation of fashion, fine jewelry, and home decor, as well as the data and technology systems that power the Moda 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.”

Dan O’Keefe, Managing Partner of Apax Digital, said: “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.”

“Moda Operandi has really disrupted the traditional ecommerce model, using technology to give people unprecedented access to fashion,” said Tony Florence, General Partner and Head of Technology Investing at NEA. “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.”

Moda was founded in 2010 by former Vogue editor Lauren Santo Domingo.