Stylesight raises $16 million from Fidelity Ventures

Stylesight, a New York-based style information service, said today that it has raised $16 million in Series A financing from Fidelity Ventures as it looks to embark on international expansion.

(An image taken from Stylesight's website appears above.)

A recent Globe story noted that Fidelity Ventures is a venture capital firm that invests funds from affiliates of Fidelity Investments, the Boston mutual fund giant; Fidelity Ventures has focused on bankrolling Internet start-ups that connect buyers and sellers of everything from loans to receivables to airplane parts.

Stylesight, which provides trend forecasting and product development tools for the fashion industry, said in its press release: "Since its launch in 2004, Stylesight.com has dramatically improved the way fashion and style professionals work by simplifying their processes with its state-of-the-art online technology platform and unparalleled trend forecasting and reporting. Stylesight's world class information is supported by its advanced image search engine with more than 3 million fashion images."

Larry Cheng, a partner at Fidelity Ventures, will join Stylesight's board of directors, the company said.

The company's press release included a statement from Cheng.

"Stylesight has become the premier information service company for the global fashion industry," Cheng said in the statement. "Stylesight's product portfolio has a real 'wow' factor and is the must-have service for fashion retailers, manufacturers, designers, and factories around the world."
(By Chris Reidy, Globe staff)