Not about to let Groupon rule the social buying space, rival LivingSocial has secured $400 million from several unnamed investors. Now reportedly worth upwards of $3 billion, LivingSocial only recently raised $175 million from Amazon in December.  

Following the investment, LivingSocial hit it big after offering members a $20 Amazon gift card for $10. Indeed, the deal ultimately brought in more than $13 million in sales.

At home and abroad, LivingSocial plans to use the new funding to narrow Groupon's lead in the daily-deal market, which consulting firm BIA/Kelsey predicts will surge to $3.93 billion by 2015.

"With this investment, we'll bring LivingSocial to tens of millions of new members around the world and introduce innovative ways to connect our members to merchants," said Tim O'Shaughnessy, co-founder and CEO of LivingSocial.

Also this week, LivingSocial added Neil Ashe, former president of CBS Interactive, to its board of directors. Ashe's role is strictly as a board member, yet LivingSocial will benefit from his experience in a more permanent capacity.

Nearly doubling recent revenue estimates, LivingSocial is now reportedly on track to book more than $1 billion in revenues this year. LivingSocial currently claims 26 million members in 206 daily deal markets and 46 Family Edition markets.

"In a relatively short amount of time, LivingSocial has reshaped the way businesses market themselves," O'Shaughnessy said.

Last year, LivingSocial acquired adventure company Urban Escapes to launch LivingSocial Escapes, a travel site offering unbeatable savings on curated adventures and LivingSocial Family Edition. To date, the company reports having filled nearly 200,000 room nights through LivingSocial Escapes.

The company also acquired a majority stake in Jump on It, a top Australian social shopping site.

In addition to Amazon, LivingSocial's existing investors include Lightspeed Venture Partners, Steve Case's Revolution LLC investment firm, and Grotech Ventures.