Plum District, the daily deals site for moms and families announced via their blog today that they have received $8.5 million in funding in a round led by Kleiner Perkins, Caufield & Byers and General Catalyst Partners. According to today’s post the investment will allow Plum District to expand their market reach to cities like Portland, Dallas and Raleigh-Durham over the course of this year. Aileen Lee, KPCB partner, will also join the Plum District board.
Now spanning more than twenty metro areas or “Districts” in the U.S., including various cities in the San Francisco Bay Area, San Diego, Orange County, Los Angeles, Chicago, New York, Washington DC and Minneapolis, Plum District’s multi-level marketing sales approach– for moms, by moms–allows the company to bring members the best local and national deals on groceries, family outings, children’s classes, restaurants, spa treatments, fashion, travel, etc. The moms that make up Plum District’s sales force find highly targeted promotions and discounts for moms and families and also network within mom communities to build viral buzz and awareness.
Launched in May of last year, the San Francisco based Plum District is just one of a growing number of savvy deal sites that are finding a promising business within niche markets. Family focus sites are becoming an especially popular area so competition is on the rise. But with proper backing and a dedicated team, sites like Plum District will always stand out.
Source: The Plum Blog