Wayfair, a Boston, Massachusetts-based online retailer of home furnishings and decor, raised $157m in Series B equity financing.
The round was led by T. Rowe Price Associates, Inc., growth focused mutual funds, as well as a private investment from Julie M.B. Bradley, TripAdvisor CFO and Wayfair board member.
The company intends to use the funds to grow its portfolio of home brands.
Led by Niraj Shah, CEO and co-founder, Wayfair offers a large selection of home furnishings and decor with more than seven million home items from 12,000 brands. Its family of brands includes Wayfair.com, a large online destination for home goods, AllModern.com, the destination for original modern design, Joss & Main, the private sale site for the home, and DwellStudio, a lifestyle retailer of modern home furnishings.
The company currently employs more than 1,600 people in its eight global locations of Boston, New York, Ogden, Utah, Hebron, Kentucky, Galway, Ireland, London, Berlin and Sydney.