Tiger Global, Lightspeed, Matrix invest $15 million in LimeRoad.com

Tiger Global, Lightspeed, Matrix invest $15 million in LimeRoad.com

E-commerce portal LimeRoad, which is mainly targeted at women, today said it has raised USD 15 million led by private equity firms Tiger Global, along with its existing investors Lightspeed Venture Partners and Matrix Partners India.

"On an average, the community of LimeRoad users generate three times more actions and page views per session on our platform versus any other alternative available to them in this market.

Tiger Global, Lightspeed, Matrix invest $15 million in LimeRoad.com

"This is growing at close to 40% per month," portal''s founder and chief executive Suchi Mukherjee said.

LimeRoad hosts apparel, accessories, including footwear and bags, as well as home and living.

It can be noted that the country accounts for 20% of the world''s manufacturing of lifestyle products.

Its mobile traffic, most of which is organic, is growing at 45% month on month, according to its co-founder & CTO Prashant Malik.

Commenting on the investment, Bejul Somaia of Lightspeed Advisory Services said the LimeRoad team has already disproved many accepted notions in the world of online commerce, which is driving their growth.

Avnish Bajaj of Matrix India said LimeRoad''s focus on winning women customers and mobile has been the key reason for its success.

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