Montreal Tech Watch

Beyond The Rack raises a whopping $12million

By Heri Jul 11th 2010 in Business

BeyondTheRack

On TechCrunch and Montrealstartup, BeyondTheRack is said to have raised $12m from Highland Capital Partners and BDC Venture Capital.

That alone makes BeyondTheRack the highest funded web startup in Montréal, in recent years. There has been reports of other companies getting more than $10million, but all of them were series B or C, for 2 to 5 year-old companies. In contrast, BeyondTheRack only started in late 2009. Now, the head count is 120, with members totalling 1.5 million. MontrealStartup also alludes to the startup experience of the founding members. The business model has certainly been masterfully fine-tuned and applied. Other Montreal startups tried the vente privee model, but BeyondTheRack leaves all of them in the dust.

Interestingly, I also noticed that Beyond The Rack’s tagline is now “North America‘s Premier Online Shopping Club”, while it had a more local focus in the beginning. In my opinion, this and the funding indicates a full commercialization push in the United States.

Bravo to the BeyondTheRack team, Montreal’s fastest growing startup.

Bravo also to MontrealStartup. So far, winning streaks and sharp understanding of their space. No home runs yet, but that will come.

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