Marketplace Jane receives $40 million in new funding

Marketplace Jane receives $40 million in new funding

Lehi, Utah – Curated e-commerce marketplace Jane will receive a $40 million growth investment from Tritium Partners, a private equity firm.

Jane offers boutique sellers and value-conscious consumers the ability to shop for home products such as soft home, hard home and furniture, as well as for apparel, shoes and jewelry.

“Our strategy is clear. We offer relevant, fashion-conscious products to women and their families in an online, curated marketplace,” said Taleeb Noormohamed, Jane CEO. “Now, as we partner with Tritium and embark on the next phase of our journey, we are focused on building Jane into a global, household brand as we expand our services to reach more customers and empower additional small boutique merchants around the world.”

The principals from Tritium have experience building online marketplaces, including Vrbo and RetailMeNot. Noormohamed said this financing, Jane’s first since the company’s founding in 2011, will accelerate growth and support the company’s plans to expand the brand by adding categories, new geographies and tech features for the company’s boutique sellers.

Jane’s user base has purchased more than $1 billion of goods through its marketplace and its skyrocketing growth has earned it a place on the Inc. 5000 list six times as one of the fastest-growing privately held companies.

In the face of difficult retail conditions, Jane continues to thrive. According to the company, momentum grew throughout 2020, regularly exceeding 80% growth and breaking daily sales records.

“Jane’s exceptional curation for consumers makes the brand unique and appealing,” said Matt Bowman, Tritium Partners managing partner. “We see significant potential for Jane in a market where consumers are rallying behind small businesses and looking for more personalized experiences.”

 

 

 

 

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