Venture Capitalism

Hipster Men’s Fashion Site Bonobos Has Raised $8 M. of a $15 M. Equity Round

screen shot 2012 01 18 at 9 09 50 am e1326896161669 Hipster Mens Fashion Site Bonobos Has Raised $8 M. of a $15 M. Equity Round

Currently on sale!

Bonobos, the popular e-tailer that launched in 2007 with the promise of a better-fitting pair of pants (ones that could hug CEO Andy Dunn’s “surprisingly meaty thighs“), is raising a $15 million equity round. According to the company’s latest Form D, Bonobos has already raised $7,999,973 toward that goal, with $7,000,027 still up for grabs.

The issuer is listed as Bonobos itself and not Mr. Dunn in particular. The equity is offered in “Series C-1 Preferred Stock and the common stock issuable upon conversion thereof,” and the round is unrelated to a merger or acquisition.

The Form D says the date of the first sale was January 5th, 2012 and six investors have already signed up, so the round is closing fast. The last time Bonobos raised funding was December, 2010, when Accel Partners and Lightspeed Venture Partners invested $18.5 million to help with customer acquisition.

Perhaps this latest round will go towards being able to support traffic from all those new customers. Bonobos experienced such an “epic fail” last Cyber Monday when 60 percent discounts drove traffic to 10x what was expected that questions regarding 404 errors, slowness, and false charges shot up to the top of Quora. But the entire staff pitched together to respond, including Mr. Dunn, who fielded phone calls until 3am and Director of Customer Experience, John Rote, described by some as a mythical hybrid of “man/unicorn.”

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