2 days ago
- Business
- Business of Fashion
Outdoor Voices' Founder Raises Series A for New Start-Up
Ty Haney is ready to scale her new venture.
The entrepreneur, who previously founded activewear label Outdoor Voices, announced on Wednesday that she has raised an $11 million Series A funding round for her three-year-old rewards platform Try Your Best. The round was led by Offline Ventures and Strobe Ventures, which previously invested in TYB in 2023.
TYB lets consumers earn rewards from their favourite brands based on how much they engage with them — including sending referrals or simply posting about coveted products. The platform currently works with 200 brands, including buzzy names known for their rapid fan bases like Rare Beauty, Glossier and Saie. The funding will help TYB bring more brands and customers onto the platform.
The fundraise comes as brands rev up their community building strategies to increase loyalty among Millennial and Gen-Z shoppers who buy from companies they have a genuine connection with. TYB has raised $24 million to date, including a $4 million seed round in 2023, according to PitchBook.
Learn more:
Case Study | How Brands Build Genuine Communities
Community is too often reduced to a buzzword, but when cultivated correctly, it can be one of fashion's most powerful means for engaging customers and building loyalty, particularly in times of economic uncertainty. This case study looks at examples of brands that have successfully created thriving fan communities and their approaches to creating lasting and rewarding relationships with their customers.
