Jenzy, a female-founded e-commerce app specialising in children’s shoes, has closed a seed round of $1.25 million. The investment is led by Morgan Stanley’s Multicultural Innovation Lab (MCIL) and supported by angel investors around the US.
Headquartered in Philadelphia, Jenzy’s app provides an easy and efficient solution for parents to size and purchase children’s shoes. Users can take a photo of their child’s foot to calculate measurements, then Jenzy will recommend the best brands and styles for the child, as well as provide personalised size recommendations based on brands.
“We are grateful to work with an incredible team of investors to support our ambitious growth vision for Jenzy in an untapped $11 billion kids’ shoe market,” says Jenzy co-founder Carolyn Horner.
“In addition to providing capital for our business, Morgan Stanley’s MCIL has been a key component in our success as a community, fostering growth for early stage technology start-ups led by female and multicultural founders.”
Since releasing the second version of its app in May 2019, Jenzy has enjoyed 50% month-over-month sales growth and held more than 25,000 app-sizing sessions.
The startup plans to use the funding to expand its team of developers, merchandisers and sizing experts, build on marketing efforts and help enhance the user experience.
“Carolyn and Eve have proven themselves to be disruptors in the e-commerce space with an innovative approach to build and scale their brand, which is showcased through the impressive funding round they proudly announce,” added Carla Harris, vice chairman, managing director and senior client advisor at Morgan Stanley.