Stylesight Raises $16 Million in Series A Financing From Fidelity Ventures



    
    - Proceeds to facilitate Stylesight's ongoing global expansion -

    
    NEW YORK, Sept. 3 /CNW/ -- Stylesight ( www.stylesight.com ), the fashion
industry's premier style information service, today announced the completion
of its Series A financing with Fidelity Ventures for $16 million of capital to
help facilitate its international expansion. In connection with the financing,
Larry Cheng, a partner at Fidelity Ventures, will join Stylesight's board of
directors.
    Since its launch in 2004, Stylesight.com has dramatically improved the
way fashion and style professionals work by simplifying their processes with
its state-of-the-art online technology platform and unparalleled Trend
forecasting and reporting. Stylesight's world class information is supported
by its advanced image search engine with more than 3 million fashion images.
    "As one of the most recognized and respected venture funds in the world,
Fidelity Ventures' investment in Stylesight underscores their confidence in
our growth and validates our tremendous momentum," said Frank Bober, founder
and CEO of Stylesight. "With their global reach, insight and experience, I am
confident that Fidelity Ventures will be an incredibly valuable partner as we
continue to grow our business and establish ourselves as the leading
information and Software-as-a-Service (SaaS) provider within the style
industry."
    The new financing will enable Stylesight to aggressively continue the
global roll out of its business, with vastly expanded sales, marketing and
client service teams. In addition, Stylesight will build upon its
industry-leading commitment to technology and innovation by adding to its
programming and R&D staff, and further develop its Fashion Office Trend teams
to provide even deeper and more granular content for its growing subscriber
base.
    "Stylesight has become the premier information service company for the
global fashion industry," said Larry Cheng, Partner at Fidelity Ventures.
"Stylesight's product portfolio has a real 'wow' factor and is the must-have
service for fashion retailers, manufacturers, designers and factories around
the world.  We are pleased to partner with Stylesight to help further their
rapid growth and leadership position."
    
    About Stylesight
    
    Stylesight is a leading provider of trend forecasting and product
development tools for creative professionals in the fashion and style
industries. The company is powered by an expansive library of inspiring images
and a Fashion Office with an unparalleled 'point of view' on the industry. Its
concise reporting and advanced technology tools consistently generate
actionable results. Stylesight was founded in 2003 by apparel manufacturing
industry veteran Frank Bober. The company is headquartered in New York, with
offices in Los Angeles, London, Paris, Sao Paulo, Hong Kong, and Melbourne,
and a global staff of trend-spotting correspondents. Stylesight's subscribers
include many of the leading retail and manufacturing companies worldwide. The
company covers all the Women's, Men's & Children's Fall / Spring Designer
Collections in New York, London, Paris, Milan, Rio de Janeiro and Sao Paolo as
well as Haute Couture Collections, Street, Vintage, Store Windows, Celebrity
Fashions, Denim, Color, Trade Shows, Mood Galleries and Interiors. For more
information, visit www.stylesight.com .
    
    About Fidelity Ventures
    
    Fidelity Ventures invests in companies ready to enter the market and
those poised for the next phase of growth. Its 40-year track record includes
hundreds of successful investments in the consumer, communications, systems
and software markets. Fidelity Ventures is distinguished by the ability to
accelerate market adoption for its portfolio companies' offerings, and by a
global network of senior technology and business executives. Fidelity Ventures
actively manages over $800 million from offices in Boston and London. For more
information, visit: www.fidelityventures.com .




For further information:

For further information: Jason Schlossberg, jschlossberg@kwitco.com, or
Lauren Davis, ldavis@kwitco.com, both for Stylesight, +1-646-747-7158 Web
Site: http://www.stylesight.com

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STYLESIGHT

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