Wednesday, September 9, 2015
The Black Tux Finds $25M For Online Tuxedo Rentals
Santa Monica-based The Black Tux, which provides online tuxedo and formalwear rentals, has raised $25M in a Series B funding. The funding was led by Stripes Group, and also included First Round Capital and Menlo Ventures. According to the company, the funds go to scaling out its infrastructure and to widen its customer base, along with growing its team. The companys says it plans to double its staff in the next year. The startup, founded by Andrew BLackmon and Patric Coyne, specifically targets wedding party rentals. Brian Nicholson and Ken Fox, both of Stripes Group, join the board, with Fox serving as an observer.