Loverly, the Pinterest-style marketplace for brides, is in the process of closing a $2.5 million Series B round at a valuation at or north of $15 million, according to sources. It is unclear who is leading the round, as well as who is participating in investment, but the numbers are accurate for the moment.
Rumors suggest that the current raise was oversubscribed, and that Lover.ly may end up taking a touch more from a few more investors before the deal is officially closed.
Quotidien ranks among Loverly’s previous investors.
Sources claim that Lover.ly will be profitable by the end of the year, based on current projections, which is why the round is relatively small. Sources also hinted that Loverly quietly raised another round between $1 million and $2 million within the last year, which was never publicized.
Loverly has grown into quite a powerhouse over the past two years. The company launched with just $500k in seed investment and has now grown to host over 250k purchasable products from over 2,000 brands, and that’s just a fraction of all the images on the platform.
According to the most recent reported results, Loverly’s mobile app has seen over 90k downloads since last year, and the web network reaches over 2.6 million including Loverly’s blog network.
The team has been releasing incremental updates over the past few months that make it easier than ever for brides to search for wedding gear, bundle what they like, and make purchases on what they love.
More recently, Loverly launched a feature called “Real Weddings” that let users bundle together professional photos of their weddings into a single page, so that users who are inspired by a particular event (rather than a color or an item) can see the whole glorious package all at once.
We reached out to Lover.ly for comment on this story, but didn’t hear back.