Spark Ventures

London, 2nd August 2010 -- Notonthehighstreet.com, one of the fastest growing online shopping websites in the UK, today announced a Series C investment of £7.5 million led by Index Ventures, who were joined by Greylock Partners.
Notonthehighstreet.com offers consumers a unique umbrella shopping experience with a single basket and checkout. Products come from a wide range of partners many of which are only available exclusively through notonthehighstreet.com. The business was founded by Holly Tucker and Sophie Cornish in 2006 and from its initial network of 95 of Britain’s most creative small businesses, the company now works with over 1,600 small business partners who sell over 35,000 products between them.

The Series C funding will enable notonthehighstreet.com to expand the team, enhance the website and underlying technology and to invest in other initiatives to improve its offering to partners and customers.

Commenting on the transaction on behalf of the company, Holly Tucker, Executive Chairman, said: “We are delighted to have such experienced and successful internet investors as Index Ventures and Greylock join Venrex and SPARK as shareholders. With their support we will strive to offer our customers the very best personalised online shopping experience and support our small business partners every step of the way.”

Ben Holmes, Partner at Index who will join the board, commented: “Consumers are increasingly looking for unique and personalised items, which are ever harder to find in today’s retail market. Holly and Sophie and their dedicated and passionate team have succeeded where many others have failed in using the internet to transform the way small businesses can find customers and transact online.”

Laurel Bowden, Partner at Greylock Partners, added: “Notonthehighstreet.com is one of the most innovative and original e-commerce businesses to come out of the UK with the future capability to support thousands of small businesses in Britain and abroad.”

Ends
Note to Editors: Holly Tucker, Sophie Cornish and Ben Holmes are available for interview.

For further information, interviews and visuals, please contact: Julie Turner or Emma Wood at notonthehighstreet.com via press@notonthehighstreet.com or telephone 00 44 (0)20 8392 4122 or mobile 00 44 (0)7778 781837 or Sayula Kirby at Index Ventures via sayula@indexventures.com or 0044 (0)20 7154 2009 or mobile 00 44 (0)7909 985 621.

Notonthehighstreet.com Notonthehighstreet.com’s turnover has leapt from £100,000 in its first year, 2006, to a predicted annual turnover for 2010 of over £14million having already achieved over 150% year on year growth in turnover for the first six months of this year. Currently 40 small businesses a day apply to join notonthehighstreet.com but only five per cent are accepted to ensure the best quality. In addition to the website, notonthehighstreet.com is producing six themed catalogues this year. Its founding venture capital investment came in 2007 from SPARK Ventures plc, whose Chairman Tom Teichman is on the board, and further investment was made in 2008 by Venrex Investment Management whose Chairman, Mark Esiri, is also a board member. Notonthehighstreet.com has received 16 awards for entrepreneurship and customer service.

Notonthehighstreet.com will be launching a new website mid-August which has been redesigned and developed after extensive research to give consumers the very best online shopping experience. It will have a new cleaner look, be more dynamic and easier to navigate enabling shoppers to quickly and easily find and purchase notonthehighstreet.com products. Its core departments will be been refined to Home and Garden, Women, Men, Baby and Child, Gifts and Weddings and each one has a 40 favourites section updated weekly.