The New York-based e-tailer has finalized a second row of fundraising, pocketing USD 30 million. Credit Suisse has led the investors providing the Series D financing for the retailer to “fuel growth and pump up infrastructure.” The new
funding will be used to further the company’s growth and infrastructure, "as we transform our business beyond the flash sales model into the next generation of ecommerce," according to Paul Hurley, Ideeli’s founder and CEO.
than a year ago, the company raised USD40 million from Next World Capital with Cue Ball Capital, StarVest Partners, Constellation Growth Capital and Kodiak Venture Partners. To date, Ideeli has raised about USD94.8 million.
In 2010, the company said its revenues totaled USD77.7 million, according to Inc. magazine, which also named it the the fastest growing company in the U.S.
Launched in 2007, the site offers curated fashion apparel, home décor and beauty products from more than 3,000 vendors. It currently has 5.5 million members and competes locally against the likes of Gilt Groupe and Rue La La.