Gilt Groupe Raises $138 Million From Several Investors and Is Valued At $1 Billion

Posted May 11, 2011

New York based discount flash sales website Gilt Groupe has raised $138 million in venture capital funding. Investors in this fifth round of funding include Softbank Group, General Atlantic, Matrix Partners, Goldman Sachs, NEA, DFJ Growth, Pinnacle Ventures, TriplePoint Capital, and Eastward Capital.

Softbank is putting $62.5 million in the round, which will go towards Gilt Groupe USA. Softbank is also putting a smaller amount into Gilt Groupe Japan. Gilt Groupe has raised a total of $240 million in funding. This values Gilt at $1 billion.

Gilt CEO Kevin Ryan is known for being an early employee at DoubleClick. Gilt was launched in November 2007. Gilt plans on using the funding towards launching new verticals and for acquisitions.