Formal dress marketplace Queenly secures 6.3 million dollars in funding

Image: Queenly Queenly, a search engine and marketplace for women’s formal dresses, has raised 6.3 million dollars in funding. The company, which offers a mix of pre-loved items and new products from retail partners, said it will use the new funding to help grow its team and scale out its operations and engineering features. The round was led by US private venture capital firm Andreessen Horowitz, bringing Queenly’s total funding to date to 7.1 million dollars. During the pandemic, Queenly has grown its user base to over 125,000, and currently lists 60,000 dresses with a total inventory value of 15 million dollars. The company, founded in 2019 by Trisha Bantigue and Kathy Zhou, uses ML-driven search engine and computer vision technology to categorize dresses. The company said it is tapping into the “large, underserved formalwear market” which has seen “little to no disruption from Silicon Valley”. The formalwear market in North America is currently worth 15 billion dollars, according to Queenly. In the US, prom season alone is worth 4 billion dollars.
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