Mumbai: LimeRoad, online social discovery platform for women, today announced that it has raised USD 30 Million in Series C financing following rapid growth in community engagement, scrapbook creation and monetization.
This raise is within ten months of its Series B financing, ramping up total funds raised to USD 45 Million in the past one year. The new round is led by Tiger Global, with participation from existing investors Lightspeed Venture Partners and Matrix Partners India.
Over the last year, LimeRoad has been steadily nurturing a unique hyperactive community that takes products from thousands of sellers from across the country, and shows users how to transform even the most basic white t-shirt into a style statement.
Suchi Mukherjee, Founder & CEO said: “We are revolutionizing the way lifestyle products are discovered and bought in India, and in doing so, we are changing social order. Smaller unique sellers from across the country are getting discovered, women from across the country are using scrapbooks as a medium for self-expression, and millions of users are getting access to highly affordable and unique style.”
Avnish Bajaj, Managing Director of Matrix India, said: “The LimeRoad team is a unique combination of a crystal clear vision combined with sheer execution prowess. We continue to be amazed by their sheer passion, sharp thinking and their core engagement metrics.”