Social retail platform OpenSky secured $30m in series C capital on Monday last week from a range of new and existing investors including a merchant bank. The round takes OpenSky’s overall funding to $49.4m since 2009.
The round was led by private equity firm Providence Equity Partners with participation from merchant banking firm The Raine Group, and venture capital firms Canaan Partners and Highland Capital Partners.
OpenSky’s website works by selling product lines endorsed by ‘Curators’ – celebrities, authors, stylists and other public figures – who customers can choose to follow online as they recommend specific products.
Officially launched in April, OpenSky currently has 600,000 members and will use the cash to expand its range of Curators in the food, style, health and home departments as well as moving into new areas.