Dive Brief:
- JustFab Inc. co-founder Adam Goldenberg said in an interview Thursday that it has raised $85 million in a recent round of funding.
- The e-commerce startup was valued at $1 billion after the announcement, and has raised a total of $250 million since it was founded in 2010, according to Goldenberg.
- The subscription-based website charges users $39.95 a month to send them a curated selection of shoes, handbags, and other items designed and manufactured by the company.
Dive Insight:
JustFab is just one of the latest retail startups that has reached the $1 billion mark in valuation recently. The Honest Co., an eco-friendly baby product company, announced Aug. 26 that it raised $70 million at a valuation just under $1 billion. While The Honest Co. is poised for an IPO soon, Goldberg has stated that JustFab does not have any "immediate plans to go public" this year or next.