Fashion tech giant Stitch Fix has scooped up the IP of a New York-based startup that has one of its founders and several of its investors based here in Austin.
Stitch Fix, an online personal styling service that went public in 2017, announced it has acquired Finery, a New York-based startup. It uses email shopping receipts to help you keep track of your wardrobe and outfits, as well as discover new things that fit your style.
No financial details were available.
"As a fellow female-founded company specializing in tech and innovation for the wardrobe; we are so happy that Finery found a new home," the company wrote in an Instagram post announcing the deal. "Whoa nelly!"
Finery was founded in 2017 by Austin-based actor and model Brooklyn Decker and CEO Whitney Casey, a former CNN anchor. It raised about $5 million in venture capital funding last year, much of it flowing from Austin.
Finery's investors include Austin-based Next Coast Ventures, as well as angel investor Cotter Cunningham, founder of RetailMeNot. Others who have backed it include NEA, Farfetch, BBG Ventures, Adrian Cheng through C Ventures, Correlation Ventures, Halogen Ventures and TheSkimm founders, Carly Zakin and Danielle Weisberg.
The company also had backing from its co-founder, Decker; her husband, former tennis star Andy Roddick; Miroslava Duma, founder and CEO of Fashion Tech Lab; and Nasiba Adilova, co-founder of The Tot.
It wasn't immediately clear how Finery's technology will be integrated or otherwise used by Stitch Fix.
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A post shared by Finery (@yourfinery) on Aug 30, 2019 at 1:15pm PDT
