Ideeli Latest Round Brings Total Raised to Nearly $100 Million

Ideeli, an e-commerce site that sells apparel at discounted prices, has raised an additional $30 million in funding.

The New York company, which competes with other so-called flash sales sites like Gilt Groupe and Rue La La, says it has signed up more than 5.5 million members and has worked with roughly 3,000 brands since getting its start in 2007.

The new funding will be used to further the company’s growth and infrastructure. Investors in the fourth round include Credit Suisse and existing investors. To date, Ideeli has raised about $94.8 million.

About a year ago, the company raised $40 million from Next World Capital with Cue Ball Capital, StarVest Partners, Constellation Growth Capital and Kodiak Venture Partners.

In 2010, the company said its revenues totaled $77.7 million, according to Inc. magazine.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work