Fashion start-up Lyst joins DFJ Esprit portfolio
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London and New York-based social commerce business Lyst has secured $5 million of Series A funding.
The European arm of venture capital fund DFJ Esprit has led a $5 million funding round into Lyst.
Lyst’s format sees the website congregate the inventories of 'thousands' of brands and stores, allowing users to follow whichever retailers and designers meet their demands. The service also allows fashion bloggers to link content to the website.
Brands linked to Lyst include Net-a-Porter, Gucci and Alexander McQueen.
According to the company, which began life in London back in 2011, the capital will be used to expand the number of retailers and fashion houses signed up to the site.
Joining DFJ Esprit in the funding round are Accel Partners, Alex Zubillaga and Venrex.
Chris Morton, co-founder and CEO of Lyst, says, 'By aggregating the world's most coveted fashion brands and influential publishers onto one platform, Lyst is making sure its users are first to know when their must-have items come in-store or go on sale.'
The backing of Lyst is the first deal for DFJ Esprit since it backed mobile travel technology company Mobile Travel Technologies as part of a $5 million deal.
Nic Brisbourne, partner at DFJ Esprit, adds, 'Lyst is one of the most exciting start-ups harnessing social media in e-commerce, and the company's expansion potential is tremendous.
'Social networking is part of all aspects of life today and fashion brands are keen to gain exposure through channels such as Facebook and Pinterest, with Lyst converting this exposure into purchases.’
VC firm DFJ Esprit has $1.1 billion of funds under management and has held investments in companies including movie rental business LOVEFiLM and snack delivery service Graze.