LONDON--()--Today, notonthehighstreet.com, the award-winning online marketplace, announced a Series D investment of £10m led by international investors Fidelity Growth Partners Europe (FGPE) and supported by previous investors, Index Ventures and Greylock Partners.
Notonthehighstreet.com offers curated collections of original and inspiring products from the best small creative businesses. Now in its sixth year, the company has grown its initial network of 95 small business partners to over 3,000 who sell over 50,000 products between them.
This fourth round of investment will allow notonthehighstreet.com to continue growing its offering and brand whilst investing in technology to remain at the forefront of innovation. Having recently launched multi-currency functionality, the investment is a vital step in enabling notonthehighstreet.com to reach consumers globally whilst also exploding the growth of the company in the UK. The growing consumer trend of rejecting the generic and mass produced continues to be matched by the company’s plans to expand internationally with its curated offering of high quality unique products.
Holly Tucker, CEO and co-founder of notonthehighstreet.com said of the investment:
“We are thrilled to be working with FGPE which has over 40 years of experience supporting businesses such as ours to help provide the expertise, resources and connections required to take us to the next level. With them, we will expand the opportunities in the UK by supporting more talented small UK businesses and so becoming the number one destination for original, thoughtful products which celebrate what matters to an individual."
Davor Hebel, partner at FGPE, commented: “In a few short years notonthehighstreet.com has successfully reached a significant portion of the UK population through its unique gift offering. The company’s phenomenal success to date is reflected in its outstanding performance and the many industry awards it has won. We are very excited to be part of the next phase of the company’s journey as it looks to transform the global gifting market.”
Davor Hebel from FGPE and Laurel Bowden from Greylock Partners will join the board of notonthehighstreet.com.
Note to Editors: Holly Tucker, Sophie Cornish and Davor Hebel are available for interview.
Notonthehighstreet.com Notonthehighstreet.com is an award-winning marketplace that supports over 3,000 of the best small creative UK businesses. Currently 40 small businesses a day apply to join notonthehighstreet.com but only a small percentage are accepted to ensure the best quality. In addition to the website, notonthehighstreet.com will produce eight themed catalogues this year and will launch its first national TV advertising campaign on 28 May 2012.
Its founding venture capital investment came in 2007 from SPARK Ventures plc, whose Chairman Tom Teichman is on the board, and further investment was made in 2008 by Venrex Investment Management whose Chairman, Mark Esiri, is also a board member. A further round of investment came in 2010 when the company partnered with Index Ventures (Ben Holmes, Partner, is on the board) and Greylock Partners. Notonthehighstreet.com has received 25 awards for entrepreneurship and customer service.
Co-founders of notonthehighstreet.com, Holly Tucker and Sophie Cornish between them have over 30 years of media and marketing experience working with leading brands at top five advertising agencies such as Publicis and major magazine houses including Condé Nast and The National Magazine Company. Both have also run their own small businesses and worked on the launch teams of other internet start-up companies. Additionally, their first notonthehighstreet.com book will be published by Simon & Schuster on 5 July 2012 entitled ‘How to Build a Business From Your Kitchen Table.’ It is as much their personal story as it is a guide to getting a business started with chapters covering everything from marketing to finance and workspaces to work-life balance.
Fidelity Growth Partners Europe (www.fidelitygrowthpartners.eu) Fidelity Growth Partners Europe is a venture and growth capital investor that backs technology entrepreneurs with aspiration to greatness. By combining a collaborative approach with a global network and a 40-year history of venture investing, FGPE helps companies accelerate their growth and become true leaders in their field. A strong track record in Europe includes investments in market leaders such as Seatwave, InnoGames, Wahanda and Stylistpick. In January 2010, FGPE raised a £100 million fund dedicated to backing fast-growing European technology companies.
Index Ventures (www.indexventures.com) Index Ventures is a leading European venture capital firm active in technology investment since 1996. The firm is dedicated to helping top entrepreneurial teams in the Information Technology, Clean Technology, and Life Science sectors build their companies into market defining global leaders. The company has offices in Geneva, San Francisco, London, and Jersey and focuses on investments from seed through growth stage companies. Current portfolio companies include ASOS, Betfair, Just-Eat and Lovefilm and exits include Last.fm, Net-a-Porter, Playfish and Skype.
Greylock Partners (www.greylock.com) Greylock partners with entrepreneurs to help them build market-leading businesses. Over the past 45 years the firm has worked with hundreds of companies, 150 of which have gone on to IPOs and 100 of which have gone on to profitable M&A events, including: CheckFree, Constant Contact, Data Domain, DoubleClick, Farecast, Media Metrix, Red Hat and Success Factors. Current Greylock portfolio companies include Data Robotics, Digg, Facebook, Imperva, LinkedIn, Palo Alto Networks, Pandora, Redfin, Workday and ZipCar. Greylock operates in a number of global centres of innovation, including China (Beijing), Europe (London), India (Bangalore), Israel (Herzliya), Massachusetts and Silicon Valley.