Online shoe store StyleTread has secured a $12 million funding deal with Starfish Ventures who will join existing investors Lakestar, Nine Enetertainment Co. and Adinvest.

Founded by Mark Rowland and Bjorn Behrendt in late 2010 using incubation capital from Lakestar, StyleTread has now grown to over 70 employees across its headquarters and warehousing operations in Sydney Olympic Park.

Based in Melbourne, Starfish Ventures is a venture capital firm with more than $400 million under management. The investment from Starfish, who will now hold a significant stake in the company plus the increased investment by Nine Entertainment Co. means that StyleTread is now owned by a majority of Australian shareholders.

“We welcome Starfish Ventures as a partner given its extensive operating and investment experience in the Australian market. This latest round of funding allows us to considerably expand the range of already more than 60,000 shoes and in excess of 150 brands, as well as explore adjacent geographic markets and fashion segments,” Mark Rowland, chief happiness officer at StyleTread, said.

“We are also looking forward to extend our strong relationship with Nine Entertainment Co. especially around media innovations merging TV, print, online and mobile advertising campaigns.”

The investment director at Starfish Ventures Nick Peace will join the board, adding to the existing board members Mark and Bjorn of StyleTread, Manu Gupta of Lakestar, Daniel Jarosch of BrandsExclusive and David Coleman of Nine Entertainment Co.

: “Online retail in Australia has exploded over the past three years and we have been looking for some time for the right investment to make in this space. StyleTread has had phenomenal success in the Australian online shoe market in the 15 months since its launch, thanks to its excellent customer service, wide product offering and great team,” Nick Peace said about the investment