TechCrunch reported this morning that private sample sale site Beyond the Rack has raised $2 Million in funding from Oleg Tscheltzoff and Oliver Jung, and Montreal Start Up.
This brings the Montreal-based startup's total funding to $4.5 million.
Similar to Gilt, HauteLook and Ideeli, Beyond the Rack is a members-only shopping site that offers steeply discounted (from 50 to 70 percent) on designer brand clothes, accessories and other goods. The site says that it is seeing 4 million monthly unique visitors, with revenue growing over 50 percent per month. And Beyond the Rack has 600,000 members after only 9 months of operation.
According to Compete.com, Beyond the Rack now leads the North American shopping club market in site traffic, both in total visits and unique visitors. Beyond the Rack attracted over 2.6 million unique visitors and 4.3 million visits in the month of December 2009.
We invest in entrepreneurial teams with big visions and global aspirations looking to establish companies in Montreal. We provide seed level... [more]
Beyond the Rack is a private shopping club for women and men who want designer brand apparel and accessories at prices up to 70% off retail. We... [more]
Rob Lewis
Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com.
His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University.
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