Balderton et al. invest $14m in Lyst

Ellie Pullen
23 January 2014

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Balderton Capital has led a $14m series-B funding round, alongside existing backers DFJ Esprit and Accel Partners, for Lyst, a London-based fashion e-commerce site.

Angel investors John Lindfors and Paul Forster also took part in the round – the former is a managing partner at DST Investment Management, while Forster is the co-founder of job site Indeed.com.

The fresh capital will allow Lyst to bolster its workforce in both its offices (London and New York). The company also plans on using the funds for further international expansion and will strengthen its market position in the US through its investors' ties in the country.

Earlier this week, Balderton announced the appointment of video platform blinkx founder Suranga Chandratillake as a general partner at the firm's London office. Chandratillake will focus on early-stage investments in online media and technology companies in his new role.

Previous funding
In July 2012, DFJ Esprit and Accel injected $5m into Lyst alongside Venrex Investment Management and retail investor Alex Zubillaga, according to unquote" data. DFJ Esprit led the round.

Company
Founded in 2010, Lyst is headquartered in London with an additional office in New York. The company provides a fashion e-commerce platform for high-street and high-end brands, such as Burberry, Topshop, Prada and Paul Smith.

Lyst partners with department stores, boutiques and online fashion stores such as Saks and Net-a-Porter. Customers follow their desired stores or designers to receive news on sales or new items.

The company claims to have 2 million users per month and reported a 400% growth rate in both 2012 and 2013. It claims to generate more than $60m annually in sales for its partner brands and retailers.

People
Chris Morton is the CEO and co-founder of Lyst. Balderton partner Mark Evans will join Lyst's board of directors following the funding round.