Santa Clara: New York-based e-commerce company, Fab.com has raised $40 million in series B round of funding led by Andreessen Horowitz. Existing investors Menlo Ventures, First Round Capital, Baroda Ventures, SoftTech VC, and Ashton Kutcher-Guy Oseary’s A-Grade Investments also took part in the funding. Co-Founded in 2010 by Nishith Shah, Deepa Shah, Jason Goldberg, and Bradford Shane Shellhammer, Fab.com has raised a total of $51 million in funds till now. It raised a combination of early-stage round of funding in June 2011, $8 million in series A round of funding in July 2011, a personal investment from Jason Goldberg, CEO, Fab.com.

Fab.com plans to use the funds to grow the business in 2012, and new investments in operations, technology, social commerce, and product expansion planned. Jason Goldberg, CEO, Fab.com says, “We believe that everyone, everywhere can benefit from affordable design and that great design exists in every product category, at every price point. We are constantly pushing the envelope at the intersection of social and commerce and content. Andreessen Horotwitz seeks to invest in great entrepreneurs, who are building highly innovative new technology companies in big markets, and Fab.com fits the criteria perfectly.“

Fab.com offers daily design inspirations and sales at up to 70 percent off retails. The members receive exclusive access to daily sales featuring world’s leading designers and manufacturers. Fab.com has 120 employees worldwide, including 85 in New York itself.

Andreessen Horotwitz is a stage-agnostic venture capital firm, which provides seed, venture, and growth-stage funding to the best new technologies. Having over $1.2 billion under management, it has already made over 70 investments, including Facebook, Groupon, Skype, Twitter, and Zynga.

Menlo Ventures has over $4 billion under management provides smart capital for seed through growth technology companies in the consumer and enterprise sectors, including Siri, MobiTV, Acme Packet, Cavium Networds, Carbonite. Menlo Ventures’s portfolio includes over 70 public companies, and more than 100 mergers and acquisitions.

SoftTech VS is a seed-stage venture capital firm, with $65 million under management across two funds. It typically invests in the range of $250,000 to $750,000 in around 20 startups per year in the mobile services, next generation e-commerce, and vertical SaaS companies.

A-Grade Investments is an angel fund founded by long-time friends Ashton Kutcher, Guy Oseary, and Ron Burkle to opportunistically invest in technology start-up companies.