FabFitFun, a leading lifestyle membership and subscription commerce company, has raised $80 million in Series A funding led by Kleiner Perkins, with participation from existing investors NEA and Upfront Ventures. The financing will be used to expand the offerings of the FabFitFun membership, evolve the platform as a marketing partner and launchpad for brands, and fuel the company’s continued global expansion.
“Our mission is to inspire happiness and well-being, and we hear from our members every day about how we’ve done that and so much more,” said Daniel Broukhim, co-founder & Co-CEO. “People from all over the world come to FabFitFun to discover new products and they remain engaged because of our interactive community and one-of-a-kind experiences.”
Founded in 2010 by Co-CEOs Daniel and Michael Broukhim and Editor-in-Chief Katie Rosen Kitchens, FabFitFun has grown from a newsletter and blog to an expansive lifestyle membership with more than one million members globally. This growth has been driven by FabFitFun’s unique retail engagement platform, which helps consumers discover and learn about lifestyle products in beauty, wellness, fashion, fitness, and more. They remain engaged in the FabFitFun community through a host of immersive and informative content, including live TV, social media, daily lifestyle recommendations, and seasonal sales where members can shop premium and emerging brands.
“FabFitFun has emerged into an exciting and entirely new distribution channel that brings retail to the platforms where consumers are most engaged,” said Mood Rowghani, a General Partner at Kleiner Perkins. “The company’s personalized connection with its community allows brands to better understand and interact with consumers—establishing a long-term relationship rather than simply a transaction.”
The business closed its first round of funding in October of 2015, raising $3.5 million in an investment led by New Enterprise Associates and Upfront Ventures. The business bootstrapped over $15 million in annual revenue run rate prior to this funding.
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