HauteLook, a Los Angeles, CA-based private sale Web site, completed a $31m Series C equity funding.The investment was led by Insight Venture Partners, which had already provided $10m in Series B financing, one year ago.
The company, which was founded by Adam Bernhard (CEO), and Lagovent Ventures Group partners Brett Markinson and Konstantin Glasmacher, will use the new capital to further accelerate its member acquisition strategy, strenghten its postion across the range of existing categories and expand in new sectors such as gourmet food, wine, and services.
HauteLook will also explore alternate shopping experiences via mobile and social media.
The site operates through 48-hour sale events with top fashion, accessories, beauty, kids and home brands. Membership is free and open to everyone in the U.S. and Canada. HauteLook has already partnered with popular brands including BCBG, Herve Leger, Joe’s Jeans, Joie, Kiehl’s, Laura Mercier, Taschen and Umi.
FinSMEs
03/06/2010