Canadian e-tailer Beyond the Rack reeled in $36 million in VC bucks from investors Panorama Capital, the California VC that read the round, and other investors Export Development Canada, Tandem Expansion Fund, Rho Canada, Inovia Capital, Highland Capital Partners and BDC Capital. Shahan Soghikian, a MD with Panorama Capital, will join Beyond the Rack’s board.
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Beyond the Rack, a Montreal-based members-only “flash sale” site, has raised $12 million in new VC funding from Highland Capital Partners and BDC Venture Capital. This is the company’s first institutional venture round, having previously been backed by angel investors. www.beyondtherack.com