HomeFundingEDITD secures $4.4M from Index Ventures and Frog Capital

EDITD secures $4.4M from Index Ventures and Frog Capital

EDITD, the world leader in real-time market data and analytics for the fashion and apparel industry, announced today it has raised $4.4 million from Index Ventures and
new investor Frog Capital. Other existing investors also participated in the round. The London-based company, which was founded in 2009, will use the funds to drive further hiring of key strategic positions in its London, Melbourne and recently opened New York offices.

EDITD is used daily by some of the world’s most successful retailers and brands, including ASOS, Gap, Gilt Groupe, Missguided, Target and many more across five continents. Using EDITD, these fashion-focused companies are improving their understanding of customers and competitors. This takes out the guesswork in setting price architecture, product assortment and positioning, thereby maximizing margins and sales opportunities.

EDITD aims to solve a major problem for fashion retailers, brands and suppliers, who have traditionally forecasted which garments to stock based mainly on instinct. With half of all garments being sold at discount (US retail market, Bain & Co), investing in the wrong products or quantities can destroy profitability for businesses of any size.

Robin Klein, partner at Index Ventures, stated: “EDITD’s approach to retail analytics is unique; they have a real-time view of the apparel market. By analysing large amounts of data, much of it directly, from e-tailers and comments in social media, they can provide unequalled insights that save their clients large sums and increase their sales by directing their product and pricing strategy around items which are most wanted.”

Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).

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