- November 30, 2018
- Posted by:
- Category: venture capital funding
Rebecca Kaden of USV will join Dia&Co's Board of Directors alongside existing directors Alfred Lin of Sequoia and Dia&Co co-founders Nadia Boujarwah and Lydia Gilbert. "We are thrilled to welcome Dia&Co to the USV Network," said Kaden. "USV backs trusted brands that broaden access, and this is exactly what Dia&Co is doing. The team has shown a remarkable ability to create not just a transactional business but a large, fast scaling, emotionally engaged community."
With more than 4 million users, Dia&Co is pioneering a new category it calls "representative retail": a dedicated approach to meeting the plus size community's full range of style needs. The company's research indicates that more than $100 billion in latent demand exists in the plus size category. This demand has gone unrealized because the retail environment systematically underserves the plus size customer, offering her paltry options, disappointing experiences, and a lack of representation.
"Plus size women represent 67% of the American female population, yet this community is consistently marginalized," said Boujarwah. "As a plus size woman myself, I know personally how disappointing the shopping experience can be. At Dia&Co, we are committed to transforming the entire retail ecosystem so that every interaction our community has with style becomes a source of joy and celebration."
"We continue to be impressed by Nadia and Lydia's authentic, customer-centric approach to tackling a massively underserved plus size market," said Alfred Lin, partner at Sequoia and Dia&Co board member.
"Dia&Co's deep understanding of their customer base and strategic mission to revolutionize the shopping experience for plus size women positions Dia&Co for continued success."
Dia&Co also announced today that Francis Nzeuton has joined the company as Chief Financial Officer.
Highly regarded for his leadership and customer centricity, Nzeuton brings deep experience in growth for large consumer-focused brands. He led the finance team across various business segments at Amazon, and most recently he led finance for Amazon's US Consumables business. At Dia&Co, Nzeuton will be tasked with helping to guide the company as it continues its meteoric rise.
Dia&Co's early growth was propelled by its Style service, which provides curated access to hundreds of the best apparel brands, including ten beloved in-house collections. The company expanded its services in May with the introduction of Dia&Co Active, which offers the world's largest selection of plus size activewear. Other recent milestones include a strategic growth partnership with theCURVYcon to fuel community development and a joint campaign with the Council of Fashion Designers of America and tennis champion Venus Williams to make fashion education more inclusive. Dia&Co's new funding will allow it to continue its rapid expansion by investing in new ways to serve its highly engaged community.
Dia&Co is the only retail service dedicated to meeting the plus size community's full range of style needs – from developing the shopping experiences she's always wanted, to building community platforms that inspire her, to ensuring she sees herself represented in the world around her. Since its founding in 2015, Dia&Co has attracted a dedicated and diverse customer base, with more than 4 million users across all 50 states. For more information, visit dia.com. To join the conversation, follow Dia&Co on Facebook, Twitter, and Instagram @diaandco.
*Under embargo until November 15, 2018 at 1:00 am EST
About Union Square Ventures
Union Square Ventures is a NYC-based venture capital firm that invests in companies throughout North America and Europe. Our companies each leverage network effects to build successful businesses. The active portfolio consists of more than 75 companies and span sectors including education, healthcare, finance, and cryptocurrencies. The six-person partnership at USV manages over $1B across seven funds. Notable exits include Twitter, Etsy, Twilio, Lending Club, MongoDB, and Funding Circle.
About Sequoia Capital
From idea to IPO and beyond, the Sequoia team helps a small number of daring founders build legendary companies. We spur them to push the boundaries of what's possible. In partnering with Sequoia, companies benefit from our unmatched network and the lessons we've learned over 45 years working with Steve Jobs, Larry Ellison, John Morgridge, Jerry Yang, Elon Musk, Larry Page, Jan Koum, Brian Chesky, Drew Houston, Adi Tatarko and Jack Dorsey, among many others. In aggregate, Sequoia-backed companies account for more than 20% of NASDAQ's total value. We're proud that their success also fuels great causes. The vast majority of money we invest is on behalf of non-profits and schools like the Ford Foundation, Mayo Clinic and MIT, which means that the returns generated from the incredible achievements of founders can make a massive difference.
|19/11/2018||$70,000,000||Series B and C||Sequoia Capital, Union Square Ventures||Union Square Ventures|