Lot18, the New York-based, members-only deal site for oenophiles and foodies, announced a $30 million round of funding this morning, about double what was raised in its seed, A, B and B-angel rounds. Accel Partners lead the round, which included existing investors New Enterprise Associates and FirstMark Capital. “The funds will support continued growth, as well as further technological and product development, particularly the expansion of Lot18 Gourmet and Experiences, the company’s food and travel verticals, respectively,” according to a news release.
Lot18 got some attention not too long ago with some similarly good news when a few angels, including the cofounders of Diapers.com, gave Lot18 a million bucks in an “interim round” in order to get a piece of the company. “The company has seen 12 consecutive months of growth in gross merchandise volume, and facilitated the sales of more than 500,000 bottles of wine,” a release said. The company says it’s grown from six employees to 80 and more than 500,000 members in less than a year.
Lot18 looks to be killing it, based on the investor interest (and assuming the numbers are honest). The company has coped ably with challenges such as state-by-state alcohol regulations and sports a number of ecommerce gurus on its board (you got Bonobos cred, Diapers.com cred and Quidsi cred all in there. And we have it on authority that founder-CEO Philip James is a “nice guy”).
With its newfound fortune, Lot18 is adding fancy travel packages (ski trips, VIP dinners at Michelin-starred restaurants, etc.) to its offerings of fancy wine, gourmet food, and free shipping based on the number of Kevin Bacon’s Twitter followers.