Jenzy, an app that provides an easy and efficient solution for parents to size and purchase children's shoes, announces closing $1.25 million of seed funding this month. The round is led by Morgan Stanley's Multicultural Innovation Lab (MCIL) and supported by angel investors around the US.
"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."
Following Jenzy's second version of the app, released in May 2019, the brand has experienced 50 percent month-over-month sales growth, held more than 25,000 app-sizing sessions and has maintained a shoe return rate of 14 percent, half of the industry average of 30 percent. Capital from the funding round will support expanding the team of developers, merchandisers and sizing experts, build on marketing efforts and help enhance the user experience.
"It has been extremely rewarding to be a part of Jenzy's growth journey through our Lab," says Carla Harris, Vice Chairman, Managing Director and Senior Client Advisor at Morgan Stanley. "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."
Eve Ackerley and Horner created Jenzy knowing kids' feet grow quickly, many kid shoe stores are closing, and while seemingly convenient for parents, shopping online doesn't offer any easy way to determine the best shoes and sizes. Jenzy's shopping experience begins with one photo to calculate a child's foot measurements, then Jenzy will recommend the best brands and styles for that child. Finally, Jenzy uses its proprietary data about the shoes they sell and how they fit to create a personalized size recommendation. Jenzy offers more than 35 leading shoe brands, including Saucony, Keds, See Kai Run, Bogs, Converse and more, designed with a child's lifestyle in mind while keeping costs affordable, for infants up to children eight years of age.
To learn more about Jenzy, visit www.Jenzy.com, download the app through bit.ly/jenzy or follow on social media at @ShopJenzy.
About Jenzy
Jenzy is an early stage technology company headquartered in Philadelphia that offers busy parents a new and efficient way to buy shoes for their quickly growing child. Through its mobile marketplace, Jenzy curates the best brands and styles for children and handles proper sizing, making sure kids get the right fit in the right shoe, every time. By taking the guesswork out of kid shoe shopping, parents can confidently make online shoe purchases through Jenzy knowing that the shoe will feel and fit great.
