One Kings Lane Receives Funding From KPCB

One Kings Lane Receives Funding From KPCB

SAN FRANCISCO, CA – December 8, 2010 – One Kings Lane, the largest and fastest growing e-commerce site dedicated to home furnishings, decor, accessories and gifts, announced today that it has completed a round of funding led by Kleiner Perkins Caufield & Byers. The round also includes funding from First Round Capital and angel investor Reid Hoffman.

“We have been so impressed by the steep growth of the business and the loyal community One Kings Lane has built in such a short period of time,” said Aileen Lee, partner, KPCB. “OKL’s cofounders are building a great brand by making inspirational design and merchandise accessible to all. We’re thrilled about OKL’s growth potential.”

One Kings Lane was started by two friends, Susan Feldman (a former fashion sales executive) and Alison Gelb Pincus (whose background is in digital media). Susan and Alison are both passionate home decor aficionados and had an insight that there was significant opportunity to bring the private sale model online in home furnishings and home decor. Since its launch in March 2009, One Kings Lane has quickly become the category leader. The members-only site hosts 72-hour sales Monday through Friday beginning at 8 a.m. PT. From furniture to flatware, linen to lamps, decorative accessories to art, they offer a diverse and curated assortment of high end designer merchandise at deeply discounted prices in limited quantities, obtained directly from designers.

“Kleiner Perkins is a great partner for us,” said Feldman. “Their leadership in understanding the future of online commerce is unparalleled and the guidance they provide us is extraordinary. We couldn’t be more pleased to have them as our partner.”