Bangalore: California based online e-Commerce platform, Brit+Co raises $20 million in series B funding led by Intel Capital. The round also saw the participation of UK media group DMGT, Oak Capital, Liberty Media and other angels including Jim Fielding, who has a long track record as an executive. This latest round brings the total funds raised by Brit Media to $27.5 million. This investment is one of the first in Intel’s campaign to strengthen tech startups through a $125 million venture fund for women and minority-led startups. As a part of the funding round, Lisa Lambert, Managing Director & Vice President of Intel Capital will be joining the board along with Lyne. There will also be a new subcommittee on the board with Daily Mail North America CEO Jon Steinberg, former Apple exec Ron Johnson and Fielding.
Brit+Co will utilize the funds to invest in developing the revenue-generating parts of the business. The company also made its first acquisition by purchasing Snapguide, the do-it-yourself (DIY) app.
Founded in 2011 by Brit Morin, Brit+Co is an online e-Commerce platform that provides tools to teach, inspire and simplify everyday life among women and girls. Brit+Co connects millions of users from traditional crafts to high-tech manufacturing with makers, designers, chefs, and inventors, building a community of creativity. The company creates ideas for creative living in the digital age. It is now a leading destination for the DIY generation, currently reaching out to more than 10 million creatively-minded people each month. This number includes not just the visitors to the Brit+Co main website but also its followers on social sites. In addition to their website, brit.co, the users can also experience Brit+Co on their mobile device by downloading the free app.