By  on January 28, 2015

Fashion Project, a clothing donation Web site whose tag line is “Fashion as a Force for Good,” has secured $7.2 million in Series A funding from a group of private investors including Second Time Around, Simon Venture Group, Burch Creative Capital, Robert Hall of Vera Bradley, RiverPark Ventures, Schooner Capital and Abundance Partners. The funding, which represents the two-year-old start-up’s largest investment yet, is earmarked for growing its workforce, expanding its facilities and increasing its charitable partner network.

Anna Palmer, chief executive officer and cofounder, started Fashion Project in 2011 with Christine Rizk, a Harvard Law School classmate. Both women had experience working at nonprofit organizations. When Palmer went to Goodwill one day and found an Alice + Olivia jacket with a $2 price tag, she thought there had to be a way to maximize profits from donated clothing. “We thought that if people could donate clothing to the charities they care about, they would be more motivated to do so,” she said. “When a donor donates apparel, we give 55 percent to the charity of their choice. The rest goes to shipping and paying our staff. The money allows us to build our team with more retailers and more charity partners.”

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