Browzwear, a pioneer of 3D digital solutions for the fashion industry, announced on Tuesday the closing of a $35 million funding round from growth equity firm Radian Capital.
Follow Israel Hayom on Facebook and Twitter
The first institutional financing received by Browzwear, the investment will accelerate delivery on the company's aggressive goals for platform development and market expansion.
Radian, an investor in mature, capital-efficient B2B technology companies, invested in Browzwear based on the company's existing leadership position and track record of growth. In each of the past five years, Browzwear has grown 40% year-over-year.
The additional capital from Radian will enable the company to build on those advantages and deliver on its goal to achieve a 150% growth rate for the next two years.
"The fashion industry has made great strides toward digital transformation, but there's so much more we can do. We at Browzwear have an ambitious vision for a future in which systems and tools throughout the ecosystem are connected," said Avihay Feld, co-founder and CEO of Browzwear. "This unification of solutions for the entire value chain is the foundation the industry needs to make digital experiences such as true-to-life virtual try-ons a reality."
