It appears that flash sales site Ideeli has raised another $12 million in funding, according to an SEC filing from Friday. It’s unclear who the investors are in this round, but this raise would bring Ideeli’s total funding to $112 million. Past investors include Credit Suisse, Next World Capital, Cue Ball Capital, StarVest Partners, Constellation Growth Capital and Kodiak Venture Partners. UPDATE: Ideeli confirmed the new raise of $12 million.
Ideeli, which launched in 2007, is part of the original crop of flash sales sites, which include Gilt Groupe, Rue La La, HauteLook (acquired by Norsdtrom) and others. At last count, the site had over 5 million members. For background, Ideeli offers 50 to 70 percent discounts on clothing and accessories over a several-day period. Products include clothing for men, women and children, as well as jewelry, handbags and home accessories.
Last year, Ideeli announced $30 million in new funding to expand beyond the flash-sales model. In 2011, Ideeli says it brought in $77.7 million in revenue.
It’s unclear if the site and its sales are continuing to grow at a fast clip. The flash sales model has faltered–Fab has moved on from flash sales, and even Gilt is exploring its options beyond the model.
We’ve contacted the company and will update when we hear back.
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