Los Angeles, CA (PRWEB) October 15, 2014
Taggler, a Los Angeles-based startup that offers a marketplace for custom apparel, announced today they have raised $500,000 from an angel funding round led by Louis Lucido, COO of DoubleLine Capital.
Taggler improves the process of ordering custom apparel with a reverse auction marketplace, which allows customers to post their order once and receive quotes from a nationwide network of printers.
Lucido’s introduction to Taggler happened by chance. Lucido was seated next to Taggler co-founder Josh Wei when they both judged a competition for Junior Achievement of Southern California, a nonprofit that empowers the youth through financial literacy and entrepreneurship. Wei is an active alumnus of the organization, while Lucido is on the Board of Directors.
“Josh had obviously benefited from the Junior Achievement program as a student, and he developed an interesting approach to apparel pricing and production, changing the value proposition for the small to medium purchaser of products,” said Lucido. “Based upon his personal drive and business plan, I was happy to become a partner in this process.”
Rather than having to call around to several local printers comparing prices and quality, customers go on Taggler, post their order, and receive multiple quotes from printers who have been pre-approved. The customer is able to compare multiple quotes at once, and select the right printer for their order based on ratings, reviews, past jobs, and price. The printer fills out Taggler's order summary form, and the customer pays through Taggler’s secure payment-processing system, with Taggler taking a percentage of the sale.
Wei first became involved with custom apparel production in 2003. He ran a screen printing shop out of his parents’ garage with his brother, Jason, as a way to help pay for his college tuition. Josh would get orders from university clubs and organizations, while Jason would print the shirts when he got home from school. Their experience running their own print shop inspired the brothers to come up with Taggler’s business model.
“After working in this industry, we realized it was inefficient and fragmented,” said co-CEO Jason Wei, who founded Taggler with Josh, and CTO Chris Del Guercio. “We saw an opportunity since there hasn’t been a lot of technology infused into the industry, and the market size is so big, nearly $7 billion annually in the United States.”
With the funding, Taggler plans to rapidly scale its business operations.
Founded in 2013 and located in Los Angeles, Taggler provides the only reverse auction marketplace for custom apparel. For more information on Taggler, visit http://www.taggler.com.