Having a famous last name can open doors, especially if it is a startup business and your dad is a pioneer of the microcomputer revolution of the 70s and 80s. However, Phoebe Gates, the daughter of Bill Gates and Melinda French Gates, is using her wealth and power to help everyday people save money while shopping online.
Phoebe is the very hands-on co-founder of Phia, an AI-powered fashion shopping app worth having linked into your browser. The New York-based company recently announced an oversubscribed $35.5 million Series A funding round, which attracted so many celebrity investors that Anna Wintour’s fundraising Met Gala would be jealous.
© Shirley Gomez / HOLA!This venture capital cap table has a top-notch roster. Among the high-profile names backing the startup are Kris Jenner, Khloé Kardashian, Jessica Alba, and Alix Earle, alongside prominent tech founders and venture capital firms.
A Celebrity Investor Lineup
Phia unveiled its investor list on social media using artwork inspired by a music festival lineup. Among the celebrity investors is Alix Earle, founder of Reale Actives, who said she was motivated by the opportunity to support women-led innovation.
"As a female founder myself, I believe in the importance of women supporting women in business," Earle told People. "I'm proud to back fellow female founders who are building forward-thinking companies and shaping the future of their industries."
Khloé Kardashian also joined the investment round after seeing her mother, Kris Jenner, back the company during its earlier fundraising efforts. "My mom has always had an eye for what's next, so when Kris Jenner invests in something, I pay attention," Kardashian told People.
Silicon Valley Heavyweights Join In
According to INC, the celebrity appeal is only part of the story. The funding round also attracted major figures from the technology and startup world, including Vladimir Tenev, Allison Ellsworth, and Iqram Magdon-Ismail. Institutional investors participating in the round include Notable Capital, Khosla Ventures, Kleiner Perkins, and SV Angel. The new funding brings Phia's total capital raised to approximately $43.5 million.
What Makes Phia Different?
Founded by Gates and her former Stanford University roommate, Sophia Kianni, Phia aims to modernize the online shopping experience through artificial intelligence. The platform helps shoppers compare prices across retailers, track price changes in real time, estimate resale values, and discover more affordable alternatives to popular products.
© Getty Images for TechCrunch"AI is reshaping nearly every industry, but shopping is stuck in the past," Gates told People. "Consumers still waste hours comparing prices and hunting for deals, only to still end up overpaying."
The company's approach appears to be resonating with consumers. Since launching, Phia has grown to more than 1.5 million users and works with over 9,600 retail brand partners.
How Phia Works: The AI Shopping App
Phia is designed to help shoppers find the best prices on fashion, beauty, and lifestyle products without spending hours comparing websites.
Here's how the app works:
AI Price Comparison
When you search for an item, Phia's artificial intelligence scans thousands of retailers and resale marketplaces to compare prices in real time. Instead of manually opening multiple tabs, users can instantly see where a product is available for the lowest price.
© Shirley Gomez / HOLA!Finds Cheaper Alternatives
One of Phia's most popular features is its ability to suggest lower-priced alternatives, often called "dupes." If you're looking at a luxury handbag, designer shoes, or a trending beauty product, the app can recommend similar options that cost less.
© Shirley Gomez / HOLA!Tracks Price Drops
Users can monitor products and receive alerts when prices change. This helps shoppers buy items when they are discounted rather than paying full price.
© Shirley Gomez / HOLA!Estimates Resale Value
Phia also analyzes the resale market and estimates what an item could be worth in the future. This feature is especially useful for designer handbags, sneakers, luxury fashion, and collectible items.
Rewards and Cash Back
The platform includes shopping rewards and cashback opportunities through participating retail partners, allowing users to earn perks while making purchases.
Searches Multiple Discount Codes
Once you are ready to place an order, Phia automatically runs all the available coupons to help you get the best discount possible.
© Shirley Gomez / HOLA!The result is a shopping assistant that functions more like a personal deal hunter than a traditional retail app.
© Shirley Gomez / HOLA!The First Round Was Just as Star-Studded
This isn't the first time Phia has attracted celebrity attention. Its earlier $8 million seed round featured investments from Sara Blakely, Sheryl Sandberg, Hailey Bieber, and Kris Jenner.
At the time, Jenner praised the founders' strategy of building a community before officially launching their product. "The way you build a brand today is simple—you build it for your audience. And that's exactly what Phoebe and Sophia are doing with Phia," Jenner told People.
© WireImage"It's smart, it's intentional, and it's the kind of storytelling that takes early buzz and turns it into real cultural impact. I'm so proud to be part of their journey."
© Getty Images for Business of FasWith millions of users already onboard and a celebrity-filled investor network behind it, Phia is positioning itself as one of the most closely watched fashion-tech startups of the next generation.
