Wednesday, January 30, 2008

StyleFeeder stylin' after closing $3M funding round

Cambridge's StyleFeeder Inc. has sealed a deal on $2 million in venture funding to cap off a Series A round of financing from Lexington's Highland Capital Partners and Boston-based Schooner Capital LLC, company officials said. Combined with $1 million in a first tranche of Series A funding received when the company spun out of Top Ten Media Inc. in May 2007, the company's first round totals $3 million.

StyleFeeder has grown to more than 500,000 users, company officials said. StyleFeeder combines social and personalization web technology to develop profiles of shopper preferences to enable users to create personal wish lists.

Top Ten Media, a Cambridge company founded in 2005 and also funded by Highland and Schooner, spun out StyleFeeder as part of a deal to sell its primary intellectual property, Top Ten Sources, to Calif. firm MeeVee Inc., according to Gaurav Tewari, senior associate at Highland Capital Partners and an investor and board member of StyleFeeder.