It's Who You Know
The ecommerce company One Kings Lane has just raised a $50 million Series D, led by Institutional Ventures Partners and with participation from Kleiner Perkins, Greylock Partners, Tiger Global Management and Scripps Networks Interactive. While headquartered in San Francisco, the company has large New York office handling much of its merch and marketing.
The company certainly seems to be in a period of rapid growth. When Betabeat visited the New York outpost back in August, desks were crammed into every spare inch of space and contractors were already preparing the space next door for expansion.
Open secrets have a way of getting out eventually. Betabeat first reported the scuttlebutt that Klout was closing in on a round of funding in October and now AllThingsD has confirmation from Klout. The social influence measuring service admits that Series C round everyone had an inkling about did indeed close in November.
CEO Joe Fernandez said Kleiner Perkins, which lead the startup’s $8.5 million Series B round in January, also lead this round with KPCB partner Chi-Hua Chien joining the board. Although Mr. Fernandez wouldn’t comment on the price or valuation, multiple sources, including Business Insider, are reporting that it was a $30 million round, which put the company at a $200 million valuation.