MAYNARD, MA -- (Marketwire) -- 01/09/13 -- Kitsy Lane (www.kitsylane.com), which has been experiencing 40% monthly growth since inception, today announced that it has raised $3.5 million in a Series A funding. Data Point Capital joined forces with Longworth Venture Partners to lead, with existing investor Point Judith Capital contributing to the round. As part of the announcement, Data Point Capital's Scott Savitz, ecommerce icon and founder of Shoebuy.com, will be joining Kitsy Lane's Board of Directors.
Kitsy Lane's social commerce platform enables anyone to launch their own Internet jewelry and accessories boutique in minutes for free. The platform provides the Boutique Owner with everything they need including a master catalog of expertly curated merchandise, as well as a social customer acquisition and promotions engine to grow a customer base and earn money. The Kitsy Lane Platform analyzes each boutique, providing an easy-to-follow to-do list to guide both the experienced and first-time store operator.
"Kitsy Lane has demonstrated impressive results at such an early stage of its development. The model is ripe for further disruption of traditional commerce offering a turnkey approach for individuals to profitably become retail entrepreneurs," says Scott Savitz, Managing Partner of Data Point Capital. "We are happy to be part of such a terrific company and look forward to lending our expertise to help it grow."
In just five months since launching in July 2012, Kitsy Lane has established itself as the leading website for women to set up their own shop as a Boutique Owner. The Kitsy Lane community has grown to over 22,000 women owned and operated businesses, adding thousands of new Boutique Owners each month.
"The Kitsy Lane team is thrilled with the response women have had to our value proposition. It's certainly been rewarding to help our network of Kitsy Lane Boutique Owners, many with no experience, grow independent businesses," says Kitsy Lane CEO and Founder, Andy Fox.
Key to Kitsy Lane's success has been its use of Facebook as an important way to integrate into each Boutique Owners social community. The day-to-day display of personally selected Kitsy Lane merchandise into their timeline and their friends' newsfeeds, keeps the Boutique Owners shops top of mind. The ongoing dialogue drives sales interactions and opportunities for Boutique Owners to win new customers and makes sales happen.
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