BorderX Lab, Inc., a Sunnyvale, Calif.-based technology enabled, cross-border e-commerce company, raised $20m in Series B financing.
The round was led by Kleiner Perkins Caufield and Byers with participation from Hillhouse Capital Group, CBC (China Broadband Capital), Welight Capital and iFly Venture Capital.
The company intends to use the funds to further drive international expansion, create new platform features to improve the customer experience and continue the hiring of team members in Sunnyvale and Shanghai.
Led by Dr. Albert Shen, CEO and co-founder, BorderX Lab provides a cross-border e-commerce platform that allows consumers around the world to discover and purchase authentic consumer goods and lifestyle products from Western brands. The company’s mobile app and platform connects American and European brands – in fashion, beauty, healthcare and lifestyle product categories – with the middle class in China (and soon in other regions of the world).
BorderX Lab partners with more than 50 merchants, including Saks, Peter Thomas Roth, Finish Line, Forzieri and Everlane.
The company also has offices in Shanghai, China.