New York-based retail company Authentic Brands Group has secured $875 million in private equity funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Aug. 11 and financed by BlackRock.
According to its Crunchbase profile, "Authentic Brands Group is a brand development and licensing company. Headquartered in New York City, ABG manages, elevates and builds the long-term value of more than 28 consumer brands by partnering with best-in-class manufacturers, wholesalers and retailers."
The 9-year-old company has raised two previous funding rounds, including a round in 2017.
The round brings total funding raised by New York companies in commerce and shopping over the past month to $1.4 billion, an increase of $1.3 billion from the month before. The local commerce and shopping industry has produced 213 funding rounds over the past year, yielding a total of $4.4 billion in venture funding.
In other local funding news, marketing automation and personalization company Attentive announced a $40 million Series B funding round on Aug. 12, led by Sequoia Capital.
According to Crunchbase, "Attentive is a personalized mobile messaging platform for innovative brands that can quickly become a top three revenue channel. Using real-time behavioral data, Attentive automatically sends engaging text messages to each subscriber at every step of the customer lifecycle."
The company also raised a $13 million Series A round in 2018.
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