Funding news was slow like molasses today. And so to continue this week’s theme of presenting funding news with a dusting of sugar, here is today’s kiddie cup of investment. We’ve got Fab McFlurry and a pint of Phish Food for your enjoyment.
JustFab applies McDonalds wisdom to fashion sector
Fashion startup JustFab nabbed $76 million in a second round of funding today for its unique combination of fashion and commerce, described as “fast fashion”. It’s similar to fast food, but less greasy.
The company creates new and updated fashions at a furious rate, curated, selected, and designed by fashion celebrities and stylists. Women sign up at a monthly $39.95 to receive new items regularly based on their preferences. JustFab acquires 500,000 new users each month and forecasts $100 million in revenue this year. The round was led by Rho Ventures. Read more on VentureBeat.
Gone Phishin’: PhishMe hooks $2M
Email security company PhishMe caught $2.5 million in its first round of funding. It makes software that trains employees how to protect themselves from targeted email threats and security issues. The round was led by Paladin Capital Group and will be used to scale (ha) sales, services, and engineering. It is based in Chantilly, VA.
Lex Machina raises $2M because lawyers want to play with Big Data too
Lex Machina closed $2 million in funding led by x/Seed Capital. The company provides intellectual property litigation data and predictive analytics to companies, law firms, consultants, and public interest users. With the recent proliferation of patent litigation, Lex Machina applies big data to the legal sector to help build cases and manage lawsuits. It’s based in Palo Alto and grew out of a Stanford University Law School and Computer Science Department project called the IP Litigation Clearinghouse.