CaaStle, a startup that launched in 2011 as a plus-sized clothes subscription service and in 2018 grew to become a listing monetization platform for clothes retailers, is dealing with monetary difficulties, experiences Axios.
The corporate is nearly out of cash, CEO Christine Hunsicker has resigned, and legislation enforcement is investigating alleged monetary misconduct, Axios reported, citing a leaked letter from the board.
CaaStle didn’t instantly reply to a request for remark. TechCrunch seen CaaStle’s job board says it at the moment has no open roles, usually a destructive signal for a startup.
The startup raised greater than $530 million complete, although it final raised $43 million in 2019, PitchBook estimates. Whereas this might be a extra concerned explosion than most startups ever endure, specialists instructed TechCrunch that 2025 is on observe to be one other brutal yr for failed startups.
