ideeli Announces $30 Million in New Funding

NEW YORK, June 21, 2012 /PRNewswire/ -- ideeli, the online retailer specializing in limited-time sales that feature incredible brands at exceptional prices, today announced a $30 million Series D financing from Credit Suisse and current institutional investors. The new capital will be used to continue ideeli's strong growth and to further invest in the company's infrastructure. ideeli was named the fastest growing company in the U.S. in 2011 by Inc. Magazine.

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"This new round of financing validates all that we have done to become a leading online retailer of aspirational and mainstream women's fashion with over 5.5 million members and 3000 brand partners," said Paul Hurley, CEO and founder of ideeli. "The investment will enable us to continue on our growth path as we transform our business beyond the flash sales model into the next generation of e-commerce."

Proceeds from the funding will be used primarily to fuel growth, further develop ideeli's customer data and insights, and continue to deliver a highly curated and editorialized customer experience that drives loyalty and sales.

"ideeli stands apart thanks to our leading presence in the most significant retail growth market – aspirational and mainstream women's fashion online – and our relentless efforts to know and connect with customers better than any other retailer," added Hurley. "By building lasting relationships with our customers and with leading brands, we are taking a smart approach to ensuring long-term success in the constantly evolving field of retail e-commerce."

About ideeli
ideeli is an online retailer specializing in limited-time sales that feature incredible brands at exceptional prices. Every day, ideeli presents more than a dozen new sales showcasing fashion for men, women and children, beauty products, and home decor, offering the thrill of discovery and the satisfaction of a deal. Launched in June 2007, ideeli is one of the fastest growing retailers in the U.S., with more than 5.5 million members and more than 3,000 brand partners. In 2011, ideeli was named to the top of Inc. magazine's list of the country's fastest-growing private companies. Join us at www.ideeli.com.

SOURCE ideeli