Canadian Startup Indochino Raises $13 Million, Tom Stemberg Joins Board

Vancouver-based online menswear startup Indochino revealed this morning it has raised $13 million in a Series B round of financing.

The round was led by the Highland Consumer Fund, with participation from existing investors Madrona Venture Group, Acton Capital Partners, and Jeff Mallett. According to the award-winning startup, the funding will enable it to "build a world class management and operations team and invest in marketing and product development."

As part of the investment, Tom Stemberg will join the board. He founded Staples and currently sits on the boards of several retailers including lululemon athletica and PetSmart.

“Most men need all the help they can get when shopping for their own wardrobe,” says Stemberg, Managing General Partner of Highland Consumer Fund. “By providing higher quality custom menswear at a lower cost, Indochino has revolutionized the direct-to-consumer business and become a global presence in custom menswear.”

“Over the past several years we have seen incredible growth in the world of online to offline fashion,” notes Kyle Vucko, CEO and cofounder of Indochino. “Consumers are accustomed to the convenience of online shopping, but want something more personal."

"This funding will help us expand our marketing programs and create new styles that keep our customers coming back again and again," he adds.

Indochino Apparel Inc.
Vancouver, British Columbia, Canada

Indochino is at the forefront of revolutionizing men’s fashion. Since our founding, we have grown to be one of the largest made to measure menswear brands on the market by providing gentlemen with high quality menswear that makes them look and feel like a million bucks. Our multi-channel customer experience allows men to order their made to measure shirts and suits online, via mobile or... more

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes and author of Tempest Bound. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys hiking, tennis, and martial arts. more

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