Fab.com Raises $40M from Andreessen Horowitz, Ashton Kutcher
Just five months after raising $8 million in a Series A funding round, New York-based daily-deals site Fab.com announced it has brought in a $40 million Series B. The funding was led by Andreessen Horowitz, with participation from existing investors Menlo Ventures, First Round Capital, Baroda Ventures, SoftTech VC, and actor Ashton Kutcher’s A-Grade Investments.
The company was founded nearly two years ago as Fabulis and has spent much of this year repositioning itself as a place for consumers to buy well-made items with high visual appeal. The current incarnation of Fab.com went live in June offering deals on high-end furniture, décor, apparel, and accessories.
Fab.com says it plans to use the funds to make new investments in operations, technology, social commerce, and product expansions.