Lot18 Completes $10m Series B financing
Lot18, a New York-based invitation-only site that offers deals (of up to 60%) on premium wines, has completed a $10m Series B financing.
The round was led by NEA Ventures, with participation from FirstMark Capital (which led the $3m Series A financing in November 2010).
In conjunction with the funding, Tom Grossi, Principal at New Enterprise Associates, and Amish Jani, Managing Director at FirstMark Capital, will join Lot18’s Board of Directors.
The company intends to use the funds to support the creation of new products and help grow the team.
Founded in 2010 by Kevin Fortuna and Philip James, Lot18 currently has more than 50 employees with over 200,000 subscribers.