Venture Capital News: Zola Secures $25M Series C
NEW YORK, NY, Wedding registry that'll do anything for love, today announced it has secured a $25 million Series C round.
ZOLA, the wedding registry that'll do anything for love, today announced it has secured a $25 million Series C round. Lightspeed Venture Partners was the lead investor, with Comcast Ventures, Canvas Ventures, Thrive Capital, BBG Ventures, Female Founders Fund, and co-founder Kevin Ryan also taking part. As a universal wedding registry, Zola allows couples to register for gifts, experiences and funds in one beautifully designed site. The funding will be used to invest further in marketing, customer service and technology resources to expand upon the wedding registry experience.
'Wedding gifts are a $19 billion business in the U.S. alone, and Zola is poised to become the market leader. We are thrilled to partner with the Zola team on their mission to bring joy and delight to couples nationwide.'
'Zola has quickly become the premier all-in-one wedding registry for millennial couples,' said Shan-Lyn Ma, CEO and Founder, Zola. 'In just three years, seven million guests have attended a Zola wedding. This additional investment will allow us to continue to innovate in the category, and continue to make the registry experience as seamless as possible for engaged couples and their guests.'
The company launched in 2013 and in just three years has achieved a $120 million GMV run rate. Zola is a hybrid of e-commerce and marketplace, and has pioneered a new model that avoids the pitfalls of traditional department stores such as inventory holding costs and high return rates.
'The fundamentals of Zola's business model, leadership team, and customer metrics are very impressive,' said Alexander Taussig, Partner at Lightspeed Venture Partners. 'Wedding gifts are a $19 billion business in the U.S. alone, and Zola is poised to become the market leader. We are thrilled to partner with the Zola team on their mission to bring joy and delight to couples nationwide.'
Previous investors in initial funding and the Series B included Canvas Ventures, Thrive Capital, BBG Ventures, Forerunner Ventures, Female Founders Fund, and Kevin Ryan.
Zola is the wedding registry that will do anything for love. Zola goes to great lengths to find the best brands, both known and unknown, and allows couples to register for gifts, experiences, and funds. Zola develops technology that helps couples get more out of their registry, letting them personalize everything with their own notes and pictures, add gifts from any website, ship at their convenience, and digitally exchange gifts. Zola is a new type of registry, built for the modern, technology-savvy couple. All in the service of love. For more information about Zola, please visit www.zola.com or follow @ZolaRegistry on Facebook, Pinterest, Instagram, Snapchat and Twitter.
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