Nov. 30, 2010
the private sale site exclusively dedicated to delivering deals on
coveted must-haves for moms and children, announced today the close of
its Series A round of financing. The $5 million round was led by DFJ Gotham and Rho Ventures.
Within just one
year of launch, TOTSY has emerged as the dominant player serving the
moms, babies and kids verticals in the online private sales. TOTSY's
strong performance and speedy customer acquisition exemplify high demand
for its offering and verify that parents are eager to purchase top
quality products for the family through the increasingly popular private
sale model. Influential venture capital firms DFJ Gotham and Rho
Ventures are backing TOTSY to fuel continued expansion of market share.
The Series A follows TOTSY's recent acquisition of competitor bTrendie's
member base, which secured TOTSY as the leading private sale site
dedicated to kids and parents in the U.S.
"As the private
sale channel continues to transform the retail industry, TOTSY has
demonstrated its leadership in the children's products category,"
commented Danny Schultz, Managing
Director at DFJ Gotham Ventures and a member of TOTSY's Board of
Directors. "TOTSY has generated tremendous customer growth since its
inception, a testament to the team's expertise and their innovative
offering for both brands and TOTSY's loyal customers. We look forward
to helping them accelerate their growth and dominate the space."
sale site category has achieved striking success in the US and globally
in recent years, with leading domestic players such as Gilt Groupe (http://www.gilt.com) and Rue La La (http://www.ruelala.com) collectively expected to bring in over $600 million in 2010. Vente-Privee (http://www.vente-privee.com), category originator and French private sale site launched in 2001, is rumored to have posted nearly $1 billion in gross global sales in 2009.
market in the U.S. has been growing steadily over recent years and
offers one of the most powerful growth opportunities for the retail
industry. Our sales and vendor sentiment at the recent ABC Kids Expo
overwhelmingly confirm that TOTSY's online private sale distribution
channel answers an urgent need for both our partner brands and American
families. This funding will help us to meet this demand as quickly as
possible," commented Guillaume Gauthereau, Co-founder and CEO of TOTSY.
Co-founder, President and CMO of TOTSY states, "We welcome the addition
of such respected investors to our team and look forward to applying
this financing to develop and execute strategic deals that will continue
to drive TOTSY's rapid growth."
Headquartered in New York,
TOTSY is a privately held company dedicated to providing its members
with access to coveted and essential products and brands designed for
expecting moms, parents, babies and kids at sample sale prices. Shopping
events are designer-specific and held over a 72 hour period. Membership
is free of charge and by invitation only. For more information, please
About DFJ Gotham
DFJ Gotham Ventures is an early-stage venture capital firm based in New York City
focused primarily on digital and social media, financial technology,
e-commerce, mobile and infrastructure startups. DFJ Gotham Ventures
partners with extraordinary teams of entrepreneurs to build strong and
successful businesses that make a huge impact in their industries. A
member of the DFJ network of funds, DFJ Gotham Ventures takes pride in
being an active partner, leveraging its experience, knowledge and
relationships to provide substantial value to its portfolio companies.
For more information, please visit www.dfjgotham.com.
About Rho Ventures
For nearly 30
years, Rho Ventures has been investing in leading edge, high growth
companies at multiple stages of growth spanning early, venture-stage
investments to later stage, growth equity transactions. Rho has
participated in the growth of some of today's most innovative and
successful companies, including Ciena, Capstone Turbine, Compaq
Computer, EverdayHealth, Intralinks, iVillage, ReachLocal, Tacoda,
Tripod, and Yantra. Rho Ventures is currently investing from Rho
Ventures VI, a $510 million fund. The firm has offices in New York City, Palo Alto and Montreal, with investments across the globe. For more information, please visit www.rho.com.