Party supply and entertaining ideas site Great Entertaining Inc., which
launched its site only last month, closed on $31 million in second-round
funding.
The round was led by Technology Crossover Ventures (TCV), joined by
Benchmark Capital, the
exclusive provider of Great Entertaining’s first round of funding, which has
now doubled its original investment in the company.
Also included in the round were Infinity Capital LLC and Attractor Investment
Management Inc.
Great Entertaining said it plans to apply its latest funding toward increased
marketing during the holiday season and beyond, more aggressive business
development activities and improvements in customer care.
The site currently offers nearly 100 party themes for children, families and
adults, with more than 3,500 entertaining products from over 100 specialty suppliers.
“Our latest venture backing enables us to continue to invest in the systems,
staff and services necessary to create a destination consumers can rely on
for all their party planning needs,” said Tanya Roberts, co-founder and chief
executive officer at Great
Entertaining.
“It also allows us to step-up our marketing activities to reach
consumers during the busy holiday entertaining season.”
“Great Entertaining addresses an enormous market with a compelling consumer
proposition. The management team has deep experience in consumer and direct
marketing, and has invested heavily in a complex back-end,” said Jay Hoag, a
founding general partner at Technology Crossover Ventures.
