Ideeli will be able to further expand its capabilities, thanks to a $30 million investment from Credit Suisse and current institutional investors. According to the company, the new capital will be used to strengthen its infrastructure and fuel the flash-sales retailer's growth prospects.
"This new round of financing validates all that we have done to become a leading online retailer of aspirational and mainstream women's fashion with over 5.5 million members and 3000 brand partners," said Paul Hurley, CEO and founder of Ideeli. "The investment will enable us to continue on our growth path as we transform our business beyond the flash sales model into the next generation of e-commerce."
Specifically, the funding will be used to further develop Ideeli's customer data and insights, and continue to deliver a highly curated and editorialized customer experience that drives loyalty and sales.
Ideeli is an online retailer specializing in limited-time sales of top fashion brands. Launched in June 2007, Ideeli is one of the fastest growing retailers in the U.S., with more than 5.5 million members and more than 3,000 brand partners.