Lyst Raises $14M in Series B Funding
Lyst, a London, UK- and New York-based fashion ecommerce platform, raised $14m in Series B funding.
The round was led by venture capital firm Balderton Capital, with participation from DFJ Esprit and Accel Partners, as well as new angel investors Paul Forster (co-founder of Indeed.com) and John Lindfors (Managing Partner at DST Investment Management). In conjunction with the funding, Mark Evans, a Balderton partner, will join Lyst’s board.
The company, which has raised over $20m to date, intends to use the funds to expand internationally and hire people across its teams in London and New York (read here).
Launched in 2010 by Chris Morton, CEO and cofounder, Lyst partners with fashion brands (Saks, Burberry, Net-A-Porter, J.Crew, Lane Crawford and Balenciaga) and stores to provide customers with a personalized way to discover items. They can follow favorite brands and stores from one place and know whenever one of their products is new in or goes on sale.
According to a written note, the business grew over 400% in 2012 and a further 400% in 2013.