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Exclusive: Zulily now valued at $1 billion

November 15, 2012: 3:55 PM ET

Zulily raises new money from Andreessen Horowitz.

FORTUNE -- Zulily, a deals site for moms and kids, is putting the finishing touches on a new venture capital round that values the company at approximately $1 billion, Fortune has learned.

Andreessen Horowitz is leading the round, which is believed to be for around $100 million. Some of that money will be used to provide liquidity to early Zulily shareholders. This may be Andreessen Horowitz's second-largest equity investment in a single company, following its recent deal for GitHub.

UPDATE: Zulily put out a press release just after 5pm ET this evening. The round is for $85 million. Valuation is not addressed.

Seattle-based Zulily last raised money in August 2011, when it secured $43 million at a post-money valuation of approximately $750 million. Existing venture capital backers include August Capital, Greenspring Associates, Maveron, Meritech Capital Partners and Trinity Ventures.

Representatives of Zulily and Andreessen Horowitz declined to comment.

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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