NEW DIGS: Black Tux said Wednesday it has closed on additional funding that brings the total raised to date to $40 million.
The $25 million Series B round was led by Stripes Group and included existing investors First Round Capital and Menlo Ventures. The raise follows the January close of a $10 million Series A round.
The company, which was started in 2013, rents tuxedo and suits for $95 to $120 in addition to an offering of shirts, vests, shoes and other related items.
The funding news comes after the company’s recent relocation and expansion of warehouse space in Gardena, Calif., that grew its operations in the city from 12,000 to 50,000 square feet.
Black Tux said it intends to use its latest capital infusion to scale the business by hiring more staff in a bid to broaden its customer base.