We’re excited to be backing the Lookiero team again as it raises a Series C round led by new investor, Perwyn, to consolidate its leadership position across Europe.
Founded in 2015 by Oier Urrutia, Lookiero combines the expertise of personal shoppers and a deep understanding of its customers with in-house recommendation algorithms to provide a fully-personalised style experience to customers.
By employing a customer’s style profile, Lookiero delivers a selection of five pieces of clothing and accessories, carefully curated by a personal shopper, to fit the customer’s individual size, style, and preferences. Customers then decide which items to keep or return (at no additional cost), enabling Lookiero’s technology and personal shoppers to learn through feedback and improve future selections.
With a team of over 400 people, Lookiero currently has over 3 million registered users and has grown revenue by over 50% in the first half of 2021 year-on-year. Furthermore, Lookiero has increased the number of items that customers keep in each box by nearly 50% in the last 3 years, improving margins significantly.
By generating lookalike profiles and analysing previous customer interactions with each item, Lookiero’s technology can accurately predict how likely a user is to keep a certain item from a range of more than 150 European brands. This ‘recommendation algorithm’ assists the customer’s assigned personal shopper to select the best suited items.
This additional funding takes the total funds raised by Lookiero to over $60 million in the last six years. Read more on the Series B raise here or find out more on the latest funding via Tech.eu.