A few weeks ago we reported that Lot18 was generating $25 million in revenue this year — not bad for a one-year-old startup.
Investors seemed to like what they saw, because the flash wine and gourmet food sales site just raised a $30 million Series C round of financing.
The round was led by Accel Partners; Sameer Gandhi is joining Lot18’s board of directors. New Enterprise Associates and FirstMark Capital also contributed to the round.
Lot18 will use the financing to grow in other categories, such as gourmet food and travel/experiences. In a few weeks it will launch a gifting feature. It has raised ~ $43 million to date.
Kevin Fortuna and Phillip James cofounded Lot18 last November. Within six months, they were generating $1 million in sales. It has 80 employees and about 500,000 members.
To learn how Fortuna and James have scaled Lot18 so quickly, click here.