US-based online wedding registry service Zola closed a $10m series B round yesterday that was backed by investors including BBG Ventures, the venture capital fund owned by AOL.
Canvas Ventures led the round, which also included fellow venture capital firms Thrive Capital and Forerunner Ventures, and VC fund Female Founders Fund.
Zola operates a millennial-focused customisable online wedding registry that can incorporate physical gifts, experience and cash gifts. The site was launched in 2013, and the company has expects to grow its revenue to $40m in 2015, up from $8m last year.
The company previously raised $3.25m in series A capital from Thrive Capital and co-founder Kevin Ryan in 2013, adding an extra $2.6m in October 2014 according to a regulatory filing. Ryan, also Zola’s chairman, had earlier provided it with its seed funding.
BBG was launched by AOL in September 2014 to make seed and series A investments in women-led consumer internet startups.