Accel Partners Leads $20m Funding Round for KupiVIP.ru

KupiVIP.ru, the Russian online shopping club led by CEO Oskar Hartmann, recently concluded a third round of new funding to the tune of USD 20 million. U.S.-based Accel Partners led the round and was joined by previous investors Arlan, Direct Group, Mangrove Capital Partners, and Oliver Jung. KupiVIP.ru has managed to raise a total of USD 31 million after its first to rounds brought in USD 3 million and USD 8 million, respectively. The new funding will be used to improve logistics and operational infrastructure.

KupiVIP.ru (www.kupivip.ru)
KupiVIP.ru is an online shopping club catering to Russian consumers in the fashions and clothing market. The company was named the top Russian web startup of 2009, having put together over 1,200 flash sales events covering more than 500 brands. With more than 1.3 million registered users, KupiVIP.ru is based in Moscow and employs more than 150 people.

Accel Partners (www.accel.com)
Accel Partners is a global investment firm specializing in venture capital and growth equity primarily in the computer, consumer services, energy, health care, internet, technology, and telecom sectors. Accel works from a local approach, utilizing dedicated teams and market strategies based on local needs and conditions. To date the company has helped build more than 300 successful enterprises including well-known names like Facebook, Glam Media, and Real Networks. Accel currently has over USD 6 billion in assets under management.