Boxed, a NYC-based wholesale club experience for shoppers, completed a $25m Series B funding round.
The round was led by GGV Capital and Digital Sky Technologies (DST) with participation from Founders Fund, AME Cloud Ventures, Vaizra Investments, and early investors First Round Capital, Greycroft Partners and Signia Venture Partners. In conjunction with the funding, Jeff Richards, Managing Partner, GGV Capital will join the Board of Directors.
The company intends to use the funds to continue to improve the service, selection, infrastructure and distribution operations.
Launched in mid-2013 and led by CEO Chieh Huang, Boxed provides consumers and small businesses with a carefully selected assortment of club packs. An iPhone and Android app allows users without the time or patience to visit a brick and mortar store with the ability to save on their favorite items, while discovering new brands.
Boxed features a full assortment of every day staples, organic and eco-friendly offerings.