Flash-Sales Site Totsy Just Snagged $18.5 Million In Funding

Photo: flickr/sharynmorrow

Totsy, an¬†online flash-sales sites which offers deals to parents for children’s and baby goods, just announced it raised $18.5 million in a Series B round.The company expects to use the funds for acquisitions, boost sales, and assist with growing operations.

Rho Ventures led the round with DFJ Gotham also participating.

“This round of financing will be very instrumental in expanding strategic industry relationships and supporting the growth of our member base. The team at Totsy is excited to meet the new opportunities, goals, and challenges that this new round will bring, ” cofounder Christophe Garnier, said in a statement.

In the past year, Totsy has seen revenue grow 125 per cent and members, or registered users, grow to 3 million.

Previously, Totsy had raised $5 million from both DFJ Gotham and Rho Ventures. In 2010, Totsy bought bTrendie.com, a competing site.


NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In