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Technology/Machinery

Browzwear raises $35 million for market expansion

Ambitious vision for a future in which systems and tools throughout the ecosystem are connected.

16th August 2021

Innovation in Textiles
 |  New York

Sports/​Outdoor, Clothing/​Footwear

Browzwear, the New York-based pioneer of 3D digital solutions for the fashion industry, has closed a $35 million funding round from growth equity firm Radian Capital.

As the first institutional financing received by Browzwear, the investment will accelerate delivery of the company’s goals for platform development and market expansion.

Browzwear solutions accelerate collection development and rapidly fit graded garments to any body model with accurate, true-motion material replication. For manufacturers, the company’s Tech Pack delivers everything needed to produce physical garments perfectly the first time, and at every step from design to production. Worldwide, more than 650 organizations such as Columbia Sportswear, PVH Group and VF Corporation use the Browzwear open platform to streamline processes, collaborate and pursue data-driven production strategies.

Radian, an investor in B2B technology companies including industry-leading software and platforms such as Mural, Emailage and Encompass Technologies, invested in Browzwear based on the company’s existing leadership position and track record of growth.

“We look to partner with market leaders who 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 is already the leader in end-to-end digital product creation for the apparel industry, with a 40% year-over-year growth over the last five years. The additional capital from Radian will enable the company to build on those advantages and deliver on its goal to more than double the size of the business over the next two years.

To support this growth, Browzwear is intending to triple its global workforce over the next two years. It is also exploring opportunities for inorganic growth while planning substantial expansion of its partner programne.

“The fashion industry has made great strides toward digital transformation, but there’s so much more we can do,” said Avihay Feld, co-founder and CEO of Browzwear. “We have an ambitious vision for a future in which systems and tools throughout the ecosystem are connected. 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.”

www.browzwear.com

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