Kitsy Lane recently announced it has closed a $3.5 million Series A funding round headed by Data Point Capital and Longworth Venture Partners. In addition, Point Judith Capital, a prevailing investor also funded to the round. As part of the deal, Data Point Capital’s Scott Savitz, founder of Shoebuy.com, will be Kitsy Lane’s newest addition to the board of directors.
Kitsy Lane is an Esty-style social commerce startup that was launched in July 2012. It gives users the opportunity to open their own “Internet Boutiques” and present online consumers products, such as jewelry and accessories. It has caught interest of over 22,000 user owned and operated businesses, experiencing a 40 per cent monthly growth since it was founded.
In addition to offering users a free place to host boutiques, the site offers marketing and merchandising options such as a master catalog of merchandise; social customer acquisition; and analytics of boutique performance. Like most websites, Kitsy is integrated with Facebook accounts, allowing personal business owners the opportunity to grow traffic, increase sales and expand vistor statistics.
“Kitsy Lane has demonstrated impressive results at such an early stage of its development. The model is ripe for further disruption of traditional commerce offering a turnkey approach for individuals to profitably become retail entrepreneurs,” said Scott Savitz, Managing Partner of Data Point Capital, in a statement.
Source: TechCrunch
