Groupon competitor Lashou raises $US116m as growth soars

Lashou.com, once touted as a potential partner for Groupon, has raised a total $US166 million in venture capital after delivering impressive growth.

All Things Digital says investors included Tenaya Capital, Norwest Venture Partner, GSR Ventures, Remgro, Reinet Fund, and the latest round was led by Milestone Capital.

The site was told at the start of the year that Lashou was on track for a $1 billion valuation.

The money raised will reportedly be used to fund market expansion and to improve customer service.