Invitation-only sale shopping website for parents Totsy has closed a Series B round of financing for $18.5 million. Existing investors financed the Series B round, with Rho Ventures leading and DFJ Gotham participating. In connection with the financing, managing partner Habib Kairouz of Rho Ventures will join the Totsy board of directors.
The company says it will use the proceeds to propel user acquisition, increase sales and expand operational capacity.
Since TOTSY’s Series A financing, the company has achieved over 125% growth in net revenue from H1 of 2011 to H1 of 2012; and currently has approximately 3 million active users.