Spring, a mobile shopping app, raised $25 million in Series B funding led by BoxGroup. Other participating investors for this round include Yuri Milner, Groupe Arnault, Google Ventures and Thrive Capital. In an initial round of Series A funding in 2014, Spring had raised $7.5 million. Since then the company has grown from 200 brands to 700 brands on their platform.
Spring is an Instagram like shopping app that distinguishes itself from other shopping apps by integrating all the fashion brands on one platform. Examples of brands already on Spring are Helmut Lang, Marchesa, Alice and Olivia, Levi’s, Citizens of Humanity, and Rebecca Minkoff. The app is meant for modern shoppers who buy luxury pieces and mix them with fast-fashion. An interesting feature on Spring is the photo carousel, which allows brands to upload five images to each post. While some brands use it to show a product in different angles, others use it to show the different uses of the product, e.g. it shows 5 different ways in which a white shirt can be worn. Initially, the app was launched for iPhone users, but recently the company has launched its Android app as well.
Shoppers can follow the brands and view the posts which are accompanied by their product with its price, pictures and description. They can also purchase the product by swiping on the image. Spring stores the customers' credit card information during the first visit and saves them from the tedious task of checking out in subsequent visits.
Spring was founded by David Tisch, Alan Tisch and Octavian Costache in 2013. Spring initially did business under the name Jello Labs. The name “Spring” was inspired by Spring Street in SoHo city, New York. The company has increased its products from 2,000 to 20,000 and plans to increase it to 500,000 by the end of this year. Spring is becoming a popular site in the fashion world presumably due to the involvement of the Council of Fashion Designers of America (CFDA).