Milwaukee startup Wantable Inc. recently raised $1.5 million through a Series A funding round.
The company, which offers a personalized makeup, fashion accessory and intimate apparel subscription service, was founded by Jalem Getz. Getz previously founded New Berlin-based costume retailer BuySeasons and sold it to Liberty Media in 2006. He left the $165 million company in 2010 and now serves as president of Wantable.
Wantable raised $800,000 in seed funding in 2012 and has demonstrated rapid growth, growing from three to 23 employees and one to three product categories.
The $1.5 million was raised privately over 60 days, Getz said. The investors, whom he would not name, are from Wisconsin and California.
“Given the smaller round size and my desire to reduce distraction, the round was only open to a small group of angel investors,” Getz said. “We did not offer it to any of the larger, slower moving groups like (Wisconsin) Super Angel Fund.”
The capital infusion will allow Wantable to add its fourth product line, fitness apparel, next month. The funds will be used for technology, staffing and achieving its mission of building the best personalized shopping service on the Internet.
“Given our highly personalized, category-specific collections, we feel Wantable.com is well-positioned to become one of the leaders in the personal styling space,” Getz said. “Like Trunk Club and Stitch Fix, we combine technology, personal service and the human touch not found at mass market online retailers like Amazon and QVC.”
