Montreal's Beyond the Rack raises a whopping $36 Million Round

Montreal's Beyond the Rack today announced that it has closed a $36.6 million investment round led by Silicon Valley-based Panorama Capital with additional investment from Export Development Canada, Tandem Expansion Fund, Rho Canada, and iNovia Capital. Current investors Highland Capital Partners and BDC Venture Capital also participated in the round.

Launched in March 2009, Beyond the Rack is a private online shopping club (similar to the popular Gilt Groupe) for women and men who want designer brand fashions and accessories at up to 70% off retail.

Beyond the Rack was recently ranked as North America's fastest-growing online retailer by Internet Retailer's Magazine. The company has attracted over 5 million consumer members and over 3,000 brand partners to its online flash-sale marketplace.

Techvibes named CEO Yona Shtern to our Digital Media People to Watch in Quebec in 2011 list and he hasn't disappointed.

Company:: iNovia Capital
Website:: http://www.inoviacapital.com
Location:: Montréal, Québec, Canada

iNovia Capital is one of Canada’s premier managers of seed and early-stage venture capital funds, with operations in both Eastern and Western Canada. We combine access to innovative technologies, deal-structuring experience and a rigorous investment philosophy to build successful companies that deliver returns. Whether in information technology, life sciences or cleantech, we seek out companies that have global... more

Company:: Rho Canada
Website:: http://www.rho.com
Location:: Montréal, Québec, Canada

Rho Canada, based in Montreal, is dedicated to backing leading, early-stage technology-based companies in Canada. Formed in 2006, Rho Canada is affiliated with Rho Ventures in the US and leverages off Rho Ventures' 25+ years of experience in investing in venture-stage companies. The Rho Canada team is led by Jeff Grammer and Antoine Paquin, serial entrepreneurs who have previously successfully built, as CEO's, a... more

Company:: Tandem Expansion
Website:: http://www.tandemexpansion.com
Location:: Toronto, Ontario, Canada

Tandem Expansion is a private growth capital fund seeking to invest in small and mid-sized Canadian companies in a variety of technology-based sectors. The fund's core values are professionalism, honesty and integrity. Tandem will act as a catalyst for growth and expansion by making targeted investments in companies with high growth potential and strong management teams. The fund's executives collectively... more

Company:: Beyond the Rack
Website:: http://www.beyondtherack.com
Location:: Montréal, Québec, Canada

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 obtain authentic designer merchandise and provide it exclusively to our members through limited-time events. Each event starts at a specific time and typically lasts only 48 hours. After each event ends the merchandise is no longer available. Members are notified by email... more

Company:: Panorama Capital
Website:: http://www.panoramacapital.com/
Location:: Menlo Park, California, United States

Panorama Capital is a seasoned team of technology and life sciences investors with a singular focus: helping entrepreneurs build market leading companies. We invest in entrepreneurs and teams who share our values: a passion to build great companies, an unyielding focus on people and teamwork and a commitment to integrity. We invest across the spectrum, from entrepreneurs with a great idea to more established... more

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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. When not running Canada's leading technology media property, Rob can... more

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