Chantel Waterbury founded Chloe + Isabel earlier this year. It’s a jewelry website that turns each of its users into mini entrepreneurs.Users are encouraged to sell the Chloe + Isabel jewelry lines to friends and at house parties. Chloe + Isabel designs and creates the jewelry, provides online training for its users/salespeople, gives them marketing tools and helps them build e-boutiques.
Now, the year-old startup has raised an $8.5 million Series A round led by General Catalyst Partners. First Round Capital and other Chloe + Isabel seed investors participated.
Part of the money will help Chloe + Isabel launch on college campuses. It will also be hiring more tech talent.
There’s surprisingly big business potential for a site like this. Stella & Dot is a similar business and it has a $370 million valuation with revenues reportedly set to reach $200 million by the end of this year.