# Modasuite

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/modasuite-2

- Industry: Consumer Products
- Headquarters: Montreal, Canada
- Website: www.frankandoak.com
- Total disclosed funding: $40M
- Latest round: Series C (Feb 13, 2018)
- Investors on record: 9

## About

Modasuite Inc., through its brand Frank And Oak, specializes in sustainable apparel and accessories, promoting eco-friendly clothing options for environmentally conscious consumers.Founded in 2012 in Montreal, Canada, Modasuite Inc. operates the Frank And Oak brand, which focuses on creating sustainable fashion. The company has executed 6 deals, with the most recent funding round, a Series C, occurring on October 2, 2020, where it raised USD 16.00 mn led by CDPQ, alongside investors Goodwater Capital and Investment Quebec. The company's headquarters are located in Montreal, Canada.Frank And Oak offers a diverse range of apparel and accessories, focusing on sustainable fashion that integrates seamlessly into everyday life. Their core product portfolio includes women's and men's clothing such as sweaters, shirts, jeans, and outerwear, which are designed with eco-friendly materials and practices in mind. These products cater to fashion-conscious consumers who prioritize sustainability in their purchasing decisions, appealing particularly to customers in North America and select international markets. The company emphasizes a commitment to sustainability through its Circular Denim™ program and a transparent supply chain.Frank And Oak generates revenue primarily through direct-to-consumer sales via its e-commerce platform, complemented by retail partnerships. The transaction structure is designed to facilitate a seamless purchasing experience for consumers, enabling them to buy individual items or take advantage of promotional offers. The company's pricing strategy includes competitive pricing for its signature products, such as the Lightweight Crewneck Sweater and the Velvet Crewneck Sweater, which are marketed at prices designed to appeal to a broad customer base. Frank And Oak’s business model further includes loyalty programs and incentives, encouraging repeat purchases and fostering long-term customer relationships.Modasuite Inc. plans to utilize the funding raised in October 2020 to expand its product line and enhance its market presence. The company is developing new sustainable clothing items with expected launches in the upcoming seasons. Additionally, there are plans for geographical expansion, targeting both North American and international markets by 2022. Recent funding will support these initiatives and strengthen the company’s position in the sustainable fashion industry.

## Funding rounds

- Series C, Feb 13, 2018, $16M — CDPQ, Investment Quebec, Goodwater Capital
- Series C, Aug 21, 2015, $3.8M — RHO, Investment Quebec, Lightbank, Bertelsmann Digital Media Investments, Real Ventures, Version One Ventures, Goodwater Capital, Campfire Capital
- Series B, Sep 4, 2014, $15M — RHO, Investment Quebec, Lightbank, Bertelsmann Digital Media Investments, Real Ventures, Version One Ventures, Goodwater Capital
- Series A, Oct 12, 2012, $5M — RHO, Lightbank, Bertelsmann Digital Media Investments, Real Ventures

## Investors

- RHO (https://capitalatlas.ai/funds/rho) — Series A, Series B, Series C
- Lightbank (https://capitalatlas.ai/funds/lightbank) — Series A, Series B, Series C
- Bertelsmann Digital Media Investments (https://capitalatlas.ai/funds/bertelsmann-digital-media-investments) — Series A, Series B, Series C
- Real Ventures — Series A, Series B, Series C
- Investment Quebec (https://capitalatlas.ai/funds/investment-quebec) — Series B, Series C
- Version One Ventures (https://capitalatlas.ai/funds/version-one-ventures) — Series B, Series C
- Goodwater Capital (https://capitalatlas.ai/funds/goodwater-capital) — Series B, Series C
- Campfire Capital (https://capitalatlas.ai/funds/campfire-capital) — Series C
- CDPQ — Series C