Gilt Raises $138 Million
New York–based flash-sale site Gilt Groupe Inc. raised $138 million in financing from current investors Softbank Group, Gilt, General Atlantic and Matrix Partners and new investors Goldman Sachs, New Enterprise Associates, Draper Fisher Jurvetson Growth, Pinnacle Ventures, TriplePoint Capital and Eastward Capital. The funding will be used to finance growth initiatives including “acquisitions [and] new business categories,” according to a company statement. Gilt also plans to grow its existing businesses, which include women’s, men’s and children’s fashion; home decor; hotels; and travel experiences. The company also operated Gilt Groupe Japan, which has grown in two years to more than 600,000 members.
