FabFitFun Raises First Round of Funding

Women's Lifestyle Brand Experiences Rapid Growth

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Oct 13, 2015, 07:09 ET

LOS ANGELES, Oct. 13, 2015 /PRNewswire/ -- FabFitFun announces the completion of the company's first round of funding, raising $3.5 million in an investment led by New Enterprise Associates and Upfront Ventures. Having bootstrapped to over $15 million in annual revenue run rate, the company expects the capital infusion to accelerate the company's remarkable growth and mission to inspire women to lead happier, healthier lives.

Initially founded as an online magazine in 2010, FabFitFun is now the world's largest full-size product lifestyle subscription box company. FabFitFun has channeled its deep understanding of what women want into curated seasonal boxes featuring the lifestyle industry's best full-size, premium products.

Grounded in technology and data expertise, Co-Founders Daniel Broukhim, Michael Broukhim, and Katie Rosen Kitchens use robust consumer surveying and industry insights rooted in an editorial background to drive merchandising decisions. With a subscription box and media platform reaching millions of women each season, FabFitFun has demonstrated an unparalleled ability to catapult brands and products in the lifestyle space.

"We've built FabFitFun with an uncompromising focus on our customers. This investment is going to enable us to create an even more compelling experience that will further surprise, delight, and enrich the lives of the FabFitFun women," said Co-Founder & Co-CEO Michael Broukhim.

Co-Founder & Co-CEO Daniel Broukhim added, "We are thrilled to welcome this group of investors to the FabFitFun family. Many have been friends of the company for a long time, and we know their involvement will help propel the company toward our goal of inspiring people to live, happier, healthier lives."

Joining New Enterprise Associates and Upfront Ventures in FabFitFun's first round of financing are several notable industry players including Rachel Zoe Ventures, 500 Startups, Simon Ventures, Draft Ventures, Josh Kushner, Will Gaybrick, Joe Green, Eytan Elbaz, and Bill Woodward, among others.

"FabFitFun has grown rapidly without raising any venture capital because it improves how women discover and engage with new products," says Upfront Ventures Managing Partner Mark Suster. "In an era of information overload, trusted curation rules. Upfront Ventures is thrilled to work with FabFitFun as it continues to build this community."

About FabFItFun:

Founded in 2010 by Co-CEOs Daniel and Michael Broukhim and Editor-in-Chief Katie Rosen Kitchens, FabFitFun is a lifestyle brand inspiring women to lead happier, healthier lives. With roots in editorial content and media, FabFitFun has evolved into the premier destination for all things beauty, fashion, wellness, and beyond. The company has parlayed its deep understanding of what women want into a curated, seasonal box featuring the industry's hottest products and has plans for additional offerings that will continue to engage influential, like-minded women.

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SOURCE FabFitFun