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Sugar Inc closes investment from Institutional Venture Partners and Sequoia Capital

Sugar Inc has completed a USD15 million later-stage round of financing led by Institutional Venture Partners (IVP), one of the premier later-stage venture capital and growth equity firms. The company’s original and consistent partner Sequoia Capital also participated in the round.

Sugar intends to use the funds for brand extensions, acquisitions, and international growth in pursuit of its goal of becoming the world’s largest media company focusing exclusively on women’s lifestyle. This round brings Sugar’s total funding to USD46 million.

Sugar is the online leader in original content, social media, and commerce targeting trendsetting women, with a global audience of more than 20 million. The company has two business segments focusing on original content and commerce with a portfolio of brands including PopSugar.com, ShopStyle.com, PopSugarCity.com, and Fashionologie.com. Sugar has 190 employees and operations in the US, Europe, Japan, and Australia.

“On the eve of our five-year anniversary, Lisa and I are proud of the success and rapid growth we have demonstrated to date,” says Brian Sugar, founder and CEO of Sugar. “In the last year we achieved significant milestones, including growing our audience to over 20 million unique visitors per month, driving over USD250 million in commerce to our partners, and reaching profitability for the full year. We are excited with the opportunities ahead of us as we continue to pioneer the combination of content and commerce.”

Dennis Phelps, General Partner of IVP, says: “Sugar is led by an outstanding management team that has driven impressive growth in a diverse set of complementary revenue streams. We see an enormous market opportunity and are excited about Sugar’s ability to execute in a world of slower-moving incumbents.”

Michael Moritz (pictured), General Partner of Sequoia, says: “Brian and Lisa Sugar are entertaining a new generation of women. They do so around the clock and on hundreds of millions of mobile and web devices. But Sugar Inc is still at the beginning of what is possible."

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