Sene (1)

Sene (1)

Sene custom-makes clothing essentials to fit with technical materials. 

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Security Type
Other
Categories
Other
Min Investment
$1,000
Location
Los Angeles, CA
Offering Date
November 07, 2019
Expected Close Date
February 05, 2020
Target Raise
$150.00K-$952.00K
Deal Notes

Security Type: Tiered Preferred Equity (SWIFT)

Purchase Price: $0.2581

Option Pool: 5%

Liquidation Preference: 1.0x

 

Valuation
$5,000,000

Company Description

Sene custom-makes clothing essentials to fit with technical materials. At Sene, we are revolutionizing apparel by creating a custom-fit zero-inventory clothing brand. We do this by replacing the tailor with data science. Nice clothing is often uncomfortable and doesn’t fit well, so Sene custom-makes clothing for women and men with technical fabrics. Customers take Sene’s SmartFit Quiz online to generate their custom fit and place their orderThe garment is laser-cut, hand-assembled, and arrives in 2-3 weeksWe make custom risk-free through our 60 Day Guarantee. All alterations, remakes, exchanges and returns are 100% freeIf the customer lives in NYC, Bay Area or Los Angeles, we’ll send a tailor to their home to adjust the garmentWe're building a radically different approach to apparel:Environmentally friendly: We only make a piece of clothing if there is someone there to wear itCapital-efficient: We have a negative cash conversion cycle, where we are paid before we make a piece of clothingHyper-personal: We build radical loyalty with customers through personalization based on preference

Perks

Lifetime 10% off on custom orders
“Pick Sene’s next product”: The ability to help us choose future colors and washes
Early access to new products
$150 in Sene credit
Lifetime 15% off on custom orders
$400 in Sene credit
Lifetime 15% off on custom orders
$500 in Sene credit
Three custom pairs of Sene's Ever Jean in each wash ($555 retail value)
Lifetime 35% off on custom orders
$500 in Sene Credits 
Three custom pairs of Sene's Ever Jean in each wash ($555 retail value)
Three custom FlexTech Suits in colors of your choice ($1,785 retail value)
Exclusive meet-the-team dinner (up to $750 of travel expenses covered)
Lifetime 50% off on custom orders
$500 in Sene Credits 
Three custom pairs of Sene's Ever Jean in each wash ($555 retail value)
Three custom FlexTech Suits in colors of your choice ($1,785 retail value)
Exclusive meet-the-team dinner (up to $750 of travel expenses covered)
Invite to annual meeting with the founders and executive team

Key Deal Facts

Over $1M in lifetime sales with only $20K of outside capital raised (unaudited)
Online revenue growing at 60%+ month-over-month on average since refocusing on digital only, with a run rate of $1M+ based on Oct 2019 revenue
Raised $100K on Kickstarter in 14 days
Investors include EVP of Production at 20th Century Fox; board of advisors include CMO of Alexander Wang, Managing Director & Partner of BCG Digital Ventures, and 3D Design Manager at Google
Media features from Fast Company, Forbes, LA Times, Fashionista, Glossy, and GQ

Use of Proceeds

Marketing/Growth, Operations, Salaries, Software Development, Rent

Management Team / Advisory Board Bios

Ray Li
CEO
Ray is passionate about using design to solve business challenges. At Sene, Ray is responsible for product, marketing, brand and UX.He previously led global rebrands at Interbrand for tech and CPG companies and won a Rebrand100 award. Before that Ray was at Deloitte Consulting managing global technology transformations. Ray is a Cornell University graduate and a member of the Sphinx Head Society. 

Mark Zheng
Partner + Chief Growth Officer
Mark is passionate about using data to design creative solutions.At Sene, Mark is responsible for data science, operations, production and finance.Mark brings his previous expertise in creating complex valuation models for the healthcare industry. Mark hails from Michigan and is a University of Michigan graduate.

Deal Notes

Security Type: Tiered Preferred Equity (SWIFT)

Purchase Price: $0.2581

Option Pool: 5%

Liquidation Preference: 1.0x

 

Amount Raised : $395,552
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