# The Black Tux

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/the-black-tux

- Industry: Retail
- Headquarters: Gardena, US
- Website: www.theblacktux.com
- Total disclosed funding: $68M
- Latest round: Series C (Mar 8, 2018)
- Investors on record: 10

## About

The Black Tux, Inc. is a US-based company that specializes in premium online rentals of tailored suits and tuxedos for formal events, providing stylish and convenient solutions to meet varying customer needs.Founded in 2012 by Andrew Blackmon and Patrick Coyne, The Black Tux, Inc. operates from its headquarters in Gardena, US. The company focuses on online suit and tuxedo rentals, offering tailored formalwear primarily for weddings and special occasions. After attracting various investors, the company raised USD 30.00 mn in a Series C funding round led by TZP Group on March 8, 2018, with participation from Menlo Ventures, Stripes, and The Raine Group. The total amount raised by the company to date stands at USD 30.00 mn.The Black Tux specializes in premium online suit and tuxedo rentals, catering to individuals in need of tailored formalwear for various occasions, primarily weddings and special events. The company's core product line includes the Essentials Collection, featuring versatile suits priced at USD 275, ideal for both formal and semi-formal events. Their innovative rental model allows customers to outfit entire wedding parties, offering savings for group bookings, and primarily serves customers in the United States and Canada.The revenue model of The Black Tux is primarily driven by direct-to-consumer transactions through its online platform, where customers can rent or purchase formalwear. Individual products such as suits and tuxedos are priced at USD 275, with discounts available for group reservations of five or more individuals. This strategy has established a steady revenue stream through both rental and purchase options, enhancing overall customer experience and driving repeat business.The Black Tux plans to utilize the USD 30.00 mn raised in the Series C funding round to support its expansion into new markets and enhance its product offerings. Upcoming initiatives include the development of new formalwear designs, although specific release dates have yet to be disclosed. The company aims to broaden its reach into additional international markets, further enhancing accessibility to its rental services.

## Funding rounds

- Series C, Mar 8, 2018, $30M — Menlo Ventures, TZP Group, Stripes, The Raine Group
- Series B, Jul 14, 2015, $25M — Menlo Ventures, First Round Capital, Stripes
- Series A, Aug 22, 2014, $10M — Menlo Ventures, First Round Capital, The Raine Group
- Seed, Dec 19, 2013, $2.5M — Menlo Ventures, RRE Ventures, First Round Capital, Crosscut Ventures Management, Lerer Hippeau Ventures, Founder Collective, WME Group, LLC

## Investors

- Menlo Ventures (https://capitalatlas.ai/funds/menlo-ventures) — Seed, Series A, Series B, Series C
- RRE Ventures (https://capitalatlas.ai/funds/rre-ventures) — Seed
- First Round Capital (https://capitalatlas.ai/funds/first-round-capital) — Seed, Series A, Series B
- Crosscut Ventures Management (https://capitalatlas.ai/funds/crosscut-ventures-management) — Seed
- Lerer Hippeau Ventures — Seed
- Founder Collective (https://capitalatlas.ai/funds/founder-collective) — Seed
- WME Group, LLC — Seed
- The Raine Group (https://capitalatlas.ai/funds/the-raine-group) — Series A, Series C
- Stripes (https://capitalatlas.ai/funds/stripes) — Series B, Series C
- TZP Group (https://capitalatlas.ai/funds/tzp-group) — Series C