Notonthehighstreet acquired by US private equity firm

British e-tailer Notonthehighstreet has been acquired by US growth equity firm Great Hill Partners.

Notonthehighstreet, which sells a range of homeware, accessories and baby and child clothing, has experienced impressive growth in the past year during the pandemic, with revenue up more than 50 percent.

During this time, the company’s customer base increased by almost 1 million and the number of small business partners on the site increased four-fold.

Notonthehighstreet CEO Claire Davenport said the new backing will help the company continue its growth and expand its product offerings.

“We’re incredibly grateful to our founders and past shareholders for all they’ve done for the business to date, and we are delighted to work with digital growth experts Great Hill Partners, Burda and Industry for the next exciting stage of our growth,” Davenport said in a statement. “Each brings considerable expertise that will help us to build on the success we’ve seen so far.”

Notonthehighstreet snapped up by US investor

Other investments by Great Hill Partners in recent years include fashion marketplace The RealReal and furniture and home-goods e-tailer Wayfair.

“Since its founding, Notonthehighstreet has become the leading UK destination for unique products and gifts, with a stellar group of small business Partners and an extremely loyal customer base,” said Peter Garran, partner at Great Hill Partners.

“We are excited to work with Claire and Notonthehighstreet’s talented team, leveraging Great Hill’s experience in helping scale leading digital marketplace companies.”

Notonthehighstreet was founded in 2006 by Holly Tucker and Sophie Cornish, and was previously backed by Index Ventures, Venrex and Eight Roads Ventures.

Photo credit: Notonthehighstreet