Le Tote, a Fashion Startup Bags $15M

Le Tote, an on-demand fashion startup has recently raised $15 million in Series B funding on Thursday to accelerate the growth of its Netflix-style clothing service.

The round was led by AITV led while the other participants included Lerer Hippeau Ventures, Azure Capital, Simon Venture Group, Epic Ventures and Funders Club.

The Y Combinator-backed company has raised $22.55 million to date from investors such as Andreessen Horowitz, Google Ventures and Arsenal Venture Partners.

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The San Francisco-based Le Tote was co-founded in 2012 by Rakesh Tondon,  as a data-driven fashion subscription service that provides on-demand boxes of apparel and accessories to customers for a flat monthly fee of $49 per month.

Company claims to be on track to deliver more than two million items to customers and increase revenue 500 percent year-over-year by taking a big number of workforce onboard.

“We’ve been helping empower women and improving their lives by making fashion affordable and accessible to every woman in America everyday while also rethinking how people interact with their closets and the retail industry as a whole,” Tondon said in a press release. “We’ve built up a top-notch leadership team over the past year that is already helping us more effectively analyze and share data with brands and customers, and we’re ready to do so much more with the continued support of our investors.”

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