An advertising watchdog’s report found dozens of claims that it says were false and deceptive. Wal-Mart blames suppliers.
The 6-year-old company has raised $106.8 million to date.
Flash-sales e-retailer ideeli Inc. has raised $12 million in a fifth funding round, a spokeswoman for the company confirmed today. The company outlined the investment Friday in a filing with the U.S. Securities and Exchange Commission.
Ideeli declined to provide further details about the investors or its plans for the funds.
Last June, the retailer raised $30 million in a Series D financing round. In 2011, it raised $41 million. In 2009, it raised $20 million, and in 2007, the year it was founded, it raised $3.8 million. That brings the retailer’s funding to date to $106.8 million.
In March, ideeli hired a new CEO, Stefan Pepe. Pepe had formerly worked for flash-sales site Gilt Groupe Inc. and Amazon.com Inc.
Ideeli is No. 154 in the 2013 Internet Retailer Top 500 Guide. Gilt is No. 54 and Amazon is No. 1.
Ideeli had 2012 web sales of $145.0 million, up 45.1% from $99.95 million in 2011, according to Internet Retailer estimates. It claims more than 5.5 million members have signed up for its exclusive limited-time sales.