Pursuits
Stitch Fix Nabs $12 Million From Benchmark to Customize Commerce
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Kacia Hosmer, a 28-year-old mom in Pittsburgh, hates shopping in crowded malls. So when it comes to buying clothes, she uses Stitch Fix Inc., an online mail-order service that lets her receive curated packages based on style preferences.
Venture-capital firm Benchmark is betting the country is filled with people like Hosmer. The investor, which made its name backing EBay Inc. in the 1990s, led a $12 million investment in Stitch Fix today to help the San Francisco-based company staff up and meet growing demand.