nomorerack, a NYC-based online shopping platform, closed a $40m Series B funding.
The round was led by Oak Investment Partners and HTV Industries. In conjunction with the funding, Dan Harrington, CEO of HTV Industries, joined nomorerack’s board of directors.
The company intends to use the funds to expand sales and marketing efforts.
Founded in November 2010 by Deepak Agarwal, CEO, nomorerack offers quality brand names as well as trendy apparel, accessories, home fashion, electronics and kids’ wear at prices from 50%-80% off retail.
The company has 14 million members and has sold a total of 13.5 million items.
30/11/2012: nomorerack Closes $12M Series A Funding