LONDON, August 2, 2010 /PRNewswire/ -- Notonthehighstreet.com, one of the fastest growing online shopping websites in the UK, today announced a Series C investment of 7.5 million pounds led by Index Ventures, who were joined by Greylock Partners.
Notonthehighstreet.com offers consumers a unique umbrella shopping experience with a single basket and checkout. Products come from a wide range of partners many of which are only available exclusively through notonthehighstreet.com. The business was founded by Holly Tucker and Sophie Cornish in 2006 and from its initial network of 95 of Britain's most creative small businesses, the company now works with over 1,600 small business partners who sell over 35,000 products between them.
The Series C funding will enable notonthehighstreet.com to expand the team, enhance the website and underlying technology and to invest in other initiatives to improve its offering to partners and customers.
Commenting on the transaction on behalf of the company, Holly Tucker, Executive Chairman, said: We are delighted to have such experienced and successful internet investors as Index Ventures and Greylock join Venrex and SPARK as shareholders. With their support we will strive to offer our customers the very best personalised online shopping experience and support our small business partners every step of the way.
Ben Holmes, Partner at Index who will join the board, commented: Consumers are increasingly looking for unique and personalised items, which are ever harder to find in today's retail market. Holly and Sophie and their dedicated and passionate team have succeeded where many others have failed in using the internet to transform the way small businesses can find customers and transact online.
Laurel Bowden, Partner at Greylock Partners, added: Notonthehighstreet.com is one of the most innovative and original e-commerce businesses to come out of the UK with the future capability to support thousands of small businesses in Britain and abroad.
CONTACT: Julie Turner or Emma Wood, both of notonthehighstreet.com,+44-(0)20-8392-4122, or mobile, +44-(0)7778-781837, firstname.lastname@example.org; or Sayula Kirby of Index Ventures,+44-(0)20-7154-2009, or mobile, +44-(0)7909-985-621,email@example.com, for notonthehighstreet.com. NOTE TO EDITORS:Holly Tucker, Sophie Cornish and Ben Holmes are available for interview.