Intimates e-tailer Brayola has another $5 million to support its growth after a recent funding round.
The company completed another round of funding and received unspecified investments from several Israel-based investors, including advertising executive Ilan Shiloah, frequent seed investor Nir Tarlovsky, digital venture capitalist Jonathan Benartzi and Shahar Waiser and Roi More, the founders of international ride-sharing app Gett.
Haim Dabah, founder and managing partner of HDS Capital and former executive director of what’s now known as Global Brands Group, also invested an unspecified amount in the company.
Brayola operates through a crowdsourcing algorithm to recommend new bras to shoppers based on their size and preferences and creates a “personalized bra shop” culled from its marketplace of 100 intimates brands, including Calvin Klein and Cosabella.
True & Co. is a similar web-based intimates shop that was acquired earlier this year by Calvin Klein’s parent company PVH Corp. for an undisclosed sum.
But Brayola doesn’t appear to have a merger on the horizon and its founder and chief executive officer Orit Hashay said the company is projecting between $40 million and $50 million in revenue for 2018.
For 2017, the company last year projected sales of $30 million and to hit profitability sometime during the year, with plans for an automatic delivery offering in the works.
“Brayola has taken online retail to the next level by not only compiling an assortment of bras from budget to luxury, but also by helping consumers find bras that will actually fit,” Hashay said. “It’s very rare that you find a retailer that works to find the best fit for each product they are selling.”
She added that there is a “huge opportunity in using data to transform online shopping” and with the new $5 million in funding, Brayola intends to keep developing its matching algorithm “to ensure that women who come to Brayola will always find the perfect bra.”
Last April, Brayola gathered $2.5 million from in another funding round, which was used for expanding staff and marketing.
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