JustFab raises 85 million dollars as a potential IPO looms closer

JustFab, the 5 year old fashion website, has raised 85 million dollars in funding,

less than one year after it brought in 40 million dollars during its third round of funding. The investment will help the fashion e-commerce company expand across Western Europe and kick start its extensive apparel launch next year.

The funding round, which was led by San Francisco-based Passport Special Opportunity Fund in partnership with existing investors Matrix Partners, Technology Crossover Ventures and Shining Capital Management, brings the total amount raised by JustFab to 250 million dollars since it first launched in March, 2010.

The fashion company has been valued at 1 billion dollars since its latest funding announcement.

“We don’t have any immediate plans to go public,” said Adam Goldenberg, co-chief executive officer at JustFab to the Wall Street Journal, adding that an IPO was also not on his “to-do” list for 2015 either. Nevertheless, he points out that the company’s view “has always been to think and act like a public company. It’s a logical outcome for us.”

JustFab is currently on track to reach 400 million dollars in revenue for 2014 and predicted to bring in more than 500 million dollars in revenue in 2015.