Zola, a US-based wedding registry platform backed by mass media company AOL’s corporate venturing subsidiary BBG Ventures, has signed term sheets on a $25m series C round, TechCrunch reported yesterday.
Sources close to the matter told TechCrunch that venture capital firm Lightspeed Venture Partners led the round, and that Zola was given a pre-funding valuation of $200m. Other investors in the round were not named.
Founded in 2013, Zola provides a single platform where couples can register the products or services they would like as gifts. Products not already featured on the site can be added to the registry with a button installed in a user’s browser.
Users can also set up a cash fund to pay for specific wedding expenses, such as air fares and hotel charges.
Zola had raised more than $15m in three previous financing rounds spaced about a year apart. BBG Ventures participated in the company’s $10m series B round, which was led by investment firm Canvas Venture Fund and closed in November 2015.
The company’s other investors include Female Founders Fund, Forerunner Ventures and repeat investor Thrive Capital, the venture firm founded by Joshua Kushner, sibling to President-elect Donald Trump’s son-in-law Jared Kushner.
Thrive Capital also took part in a $3.25m series A round for Zola in November 2013, before the company raised a further $2.6m from unnamed backers in October 2014, according to a regulatory filing.