Social Shopping Site Limeroad Raises $15 Mn Funding Led By Tiger Global
Gurgaon based social commerce website, Limeroad has raised $15 Mn in funding in a round led by Tiger Global. Existing investors Matrix Partners & Lightspeed Venture Partners were also part of the round.
This is Limeroad’s second round of funding. Limeroad had last received $5 Mn in funding in 2012 from Matrix and Lightspeed Venture Partners. The existing investors have also invested in the current round of funding.
The startup’s social platform lets shoppers discover, share and shop lifestyle products. It also lets users put together scrapbooks of looks and share with others. As of September 2013, nearly 80% of the site’s traffic came from Facebook.
Suchi Mukherjee, Founder and CEO, LimeRoad, said:
90%+ of our 1,50,000+ products and looks are unique and user generated, and this is growing 30-40% per month. On average the community of LimeRoad users generate 3x more actions and page views per session on our platform versus any other alternative available to them in this market.
Prashant Malik, the other co-founder at Limeroad was one of the two authors of Apache Cassandra, a distributed database management system originally developed at Facebook and later open sourced.
“Our mobile traffic, most of which is organic, is growing at 45% month on month. With that as backdrop, we are today launching our Android Mobile App,” Malik who is the CTO at Limeroad said.
Tiger Global is also a common investor in e-commerce portals Flipkart and Myntra and recently invested in Grey Orange Robotics and Commonfloor.
Recommended Read: How Limeroad is reimagining e-commerce in India