The online fashion firm plans to expand its offerings and hire more employees.
Ideeli, which operates a flash-sale fashion site, said today it had raised $41 million in a funding round, the company’s third. Ideeli launched in 2007 and has 4 million members who have signed up to take part in the limited-time sales offered at ideeli.com.
Ideeli says it will use the capital funding to expand its product categories, hire employees, enhance its technology and boost marketing. Next World Capital led the funding round. Cue Ball Capital and current investors StarVest Partners, Constellation Growth Capital and Kodiak Venture Partners also took part in the funding round.
Sebastian Lepinard, Next World’s managing partner and founder, will join ideeli’s board of directors. He was director of investment firm Halley Group, which ideeli says is the lead investor in Carrefour S.A., a French company that operates a large chain of hypermarkets, which are a combination of supermarkets and department stores.
“Ideeli has built an organization with strong values and processes that satisfy brand partners while growing sales at a very impressive rate,” says Lepinard. “Having longstanding experience in mass retailing, we fully appreciate the power of ideeli's value proposition to consumers: appealing products in a dynamic online environment while offering great value.”
Mark Uhrmacher, ideeli’s founder and chief technology officer, will speak at the Internet Retailer Conference & Exhibition 2011 in a session entitled “Managing a complex technology implementation: The Dos and Don'ts."