MyShape Raises $12M, But Not Done Yet

Pasadena-based MyShape has raised $12M in a round of venture capital, the company's CEO, Louise Wannier, confirmed Monday after reports that the firm had closed a round of funding, but said the round was still in progress. The funding came from Lehman Brothers Venture Partners and also included prior lead Draper Fisher Jurvetson, along with local angel groups the Pasadena Angels and the Tech Coast Angels. MyShape runs an online apparel store which is targeted on matching women with clothing that best fits them. Wannier said the round remains open, as the firm is still in active discussions with investors. Wannier said the investment comes in one of the areas of the economy that is rising, as online apparel has been doing well. The funding tranche closed in early August, but the firm was waiting until the close of additional investors to formally announced the round. More information »