CaaStle, a startup that launched in 2011 as a plus-sized clothing subscription service and in 2018 became an inventory monetization platform for clothing retailers, is facing financial difficulties, reports Axios.
The company is almost out of money, CEO Christine Hunsicker has resigned, and law enforcement is investigating alleged financial misconduct, Axios reported, citing a leaked letter from the board.
CaaStle did not immediately respond to a request for comment. TechCrunch noticed CaaStle’s job board says it currently has no open roles, often a negative sign for a startup.
The startup raised more than $530 million total, though it last raised $43 million in 2019, PitchBook estimates. While this could be a more involved explosion than most startups ever endure, experts told TechCrunch that 2025 is on track to be another brutal year for failed startups.