Israeli 3D digital solutions for the fashion industry developer Browzwear today announced the completion of a $35 million financing round from growth equity firm Radian Capital. The investment will accelerate the company's platform development and market expansion.
Browzwear said that in each of the past 5 years, the company has grown 40% year-over-year, reflecting the company’s strength and ability to consistently increase long-term value. "We look to partner with market leaders that have been able to build strong, healthy businesses on their own terms," said Weston Gaddy, a co-founder and Partner at Radian Capital. "A 20-year-long overnight success story, Browzwear invented the use of 3D design for apparel and is increasingly being adopted as the design system of record by the largest brands and manufacturers in the industry. The company has done something incredible in getting to that position without outside funding and with impressive, profitable growth."
Browzwear plans to increase its global workforce by 200% to advance its technological leadership in R&D and product development. The company is growing its customer-facing teams to enhance service while supporting scale.
Browzwear also plans substantial expansion of its partner program. Currently consisting of more than 100 partners, the partner program is an ecosystem of complementary products and services that enhance the overall value of Browzwear for customers. By building on this network and bringing together the industry’s most cutting-edge technologies, Browzwear can accelerate further innovations that extend the value of true-to-life 3D through product development and manufacturing to consumer-facing solutions that will power next-generation e-commerce capabilities.
Browzwear was founded in 2012 by co-CEO Avihay Feld. Co-CEO Sharon Lim, CTO Noam Nevo and Chief Commercial Officer Lena Lim.
Feld said, "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."
Sharon Lim added, "By facilitating processes from product development and manufacturing to final retail sale, Browzwear will drive more value for its customers and bring greater efficiency, sustainability and profitability to stakeholders throughout the fashion industry."
Browzwear's 3D digital solutions for the fashion industry, drive seamless processes from concept to commerce. For designers, Browzwear accelerates collection development, opening limitless opportunities to create iterations of styles. For technical designers and patternmakers, Browzwear rapidly fits graded garments to anybody model with accurate, true-motion material replication. For manufacturers, Browzwear’s Tech Pack delivers everything needed to produce physical garments perfectly the first time, and at every step from design to production.
Browzwear works with more than 650 organizations worldwide such as Walmart, Lululemon, Columbia Sportswear, Nike, PVH Group and VF Corporation. These corporations leverage Browzwear’s open platform to streamline processes, collaborate and pursue data-driven production strategies so they can sell more while manufacturing less, which increases both ecologic and economic sustainability.
Published by Globes, Israel business news - en.globes.co.il - on August 17, 2021
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