We’ve been following the multi-billion-dollar Brazilian e-commerce industry for quite some time now. And today, we caught wind of another event in the area’s ecosystem – a hugely successful investment round for Baby.com.br, an e-commerce platform for all things baby.
The company raised US$16.7 million in its Series B funding round, led by Accel Partners and followed by Tiger Global, Valor Capital Group, Menlo Ventures, Greenoaks Capital Management and Chamath Palihapitiya. This follows the company’s original investment round with its October 2011 launch, in which it received US$4.4 million from Monashees Capital.
In its business model, Baby.com.br is quite similar to Diapers.com, which was acquired by Amazon in a deal worth US$545 in 2010. Baby.com.br was founded by two United States MBA graduates, Davis Smith and Kimball Thomas, who previously founded and sold Pooltables.com.
With this investment, Baby.com.br is sure to seek to overtake its main market competitor, Bebêstore, which announced a significant second-round investment from Atomico earlier this month.
Baby.com.br is only in its first year and still undergoing growing pains in panning out questions of bureaucracy, taxes and shipping. This new round of investment is sure to help the platform to propel forward.