One Kings Lane, a US e-commerce company for the home, has raised $50m in Series D financing.
The round was led by Institutional Venture Partners (IVP), with participation from Kleiner Perkins Caufield & Byers (KPCB), Greylock Partners, Tiger Global Management, and new investor Scripps Networks Interactive Inc. (NYSE: SNI).
The company intends to use the funding, which brings the company total amount raised in vc to $117m, for continued customer satisfaction, new member acquisition, superior merchandising and technology innovation, along with business model expansion.
Led by CEO Doug Mack, One Kings Lane works directly with home brands, antique and vintage dealers and designers to bring their items to its members – every day of the week. According to a written statement, One Kings Lane is on track to achieve $200m in annualized revenues in 2012, with 25% of monthly revenues now coming from mobile purchases.
19/09/2011: One Kings Lane Raises $40M in Series C Financing