Apparel Company Figs Raises $65 Million

Fourth largest raise for female-founded company in 2017

Los Angeles – January 31, 2018 – Cooley advised ecommerce medical apparel company Figs on raising $65 million in an investment round led solely by holding company Tulco. Partner Dave Young headed the Cooley team advising Figs.

Founded in 2013 by Heather Hasson and Trina Spear, Figs has now raised a total of $75 million. Figs is focused on transforming the medical apparel industry by prioritizing design, technical fabrications and comfort. Its apparel is antimicrobial, wrinkle resistant, stain repellant, lint free and utilizes four-way stretch.

"We're not just changing an antiquated industry, we're changing purchasing behaviors that have been ingrained in this community for over a hundred years,” said Hasson in a news release. “That has never been done."

As reported by Forbes and according to PitchBook data, the new funding represents the fourth largest investment for a female-founded company last year. Figs says the funds will be used for advancements in technology, customization and to buy out existing investors. The infusion of capital will also propel the current pipeline, which includes international expansion.

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Related Contacts
Dave Young Partner, Los Angeles
Matt Beaudoin Associate, Los Angeles
Barbara Mirza Partner, Los Angeles
Ross Eberly Associate, Los Angeles
Mark Windfeld-Hansen Partner, Palo Alto
Todd Gluth Partner, San Diego
Pete Wenzel Special Counsel, Los Angeles