NoMoreRack nets $40 million Series B to expand algorithmic ecommerce


NoMoreRack has secured $40 million in a Series B round, led by Oak Investment Partners and HTV Industries, in order to expand its discount-focused ecommerce website, according to TechCrunch. The money will go to bolstering the company’s top sales categories — including jewelry, apparel, and home — which helped put the company on track to $300 million in revenue for 2013. NoMoreRack’s gimmick is its algorithm, which rotates thousands of sales based on volume and traction. Deal-focused ecommerce has taken a beating with the oversaturation of “flash deal” websites, but NoMoreRack’s success shows that the internet still loves a bargain.

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