According to a press release on PE Hub, Boston based CSN Stores has just raised $165 million in its first round of institutional financing from Battery Ventures, Spark Capital, HarbourVest Partners and Great Hill Partners. The is the first institutional money CSN has raised in its nine-year history. It will expedite CSN’s expansion efforts and bolster the company’s brand new plan to consolidate its catalog under a new and more memorable brand, Wayfair.com.

Boston based CSN Stores has just been ranked the second largest online retailer of housewares and home furnishings in the U.S., exceeding $380 million in 2010 sales. And for the first time passed industry heavyweight Crate & Barrel on the list.

CSN has been profitable every year since its founding back in 2002. The company is currently experiencing tremendous  growth in 2011 with Q1 performance up by more than 56 percent compared to Q1 2010.

With this first round of funding it is clear that CSN is making a BIG play at the $500 billion furniture/home goods market. As mentioned above the new money will help expedite the WayFair re-brand and support acquisitions of other companies that would benefit CSN.

From the press release, “CSN continues to be a hiring hotspot, with 800 people currently employed, and many positions on the horizon. Last year, we hired 250 people. So far this year, we’ve hired at least another 150. And we’re estimating that we’ll recruit as many as another 200 more throughout the remainder of 2011. We would be happy to tell you more about our recent facility expansions (a new distribution and operations center in Ogden, Utah) and specific career opportunities, both in Boston and in Ogden, as well.”