MORE MONEY: Lyst, the online fashion marketplace, has raised $14 million in a round of Series B funding led by the venture capital firm Balderton Capital. The firms DFJ Esprit, Accel Partners and Alex Zubillaga also contributed to the financing. Two additional angel investors have joined the funding: Carmen Busquets, one of the founding investors in Net-a-porter, and John Lindfors, a managing partner at Digital Sky Technologies.
Lyst, which launched in 2010, said the new investment would enable the company to “build on its exponential growth,” with the focus on growing its customer base internationally, as currently 70 percent of Lyst’s customers are based in the U.S., a spokeswoman for Lyst said. The firm said it would also hire staffers for its London and New York offices.
This story first appeared in the January 23, 2014 issue of WWD. Subscribe Today.
The site, which allows customers to create an online shopping experience with their own customized list of brands, said it receives visits from 2 million shoppers a month and generates $60 million annually for the fashion brands and retailers it partners with, who number Saks Fifth Avenue, Burberry, Net-a-porter, J. Crew, Lane Crawford and Balenciaga.