What is thredUP?
Founded in 2009 and headquartered in San Francisco, California, thredUP operates as a prominent online marketplace dedicated to the buying and selling of pre-owned women's and children's clothing. The platform facilitates a circular economy model, allowing consumers to participate in sustainable fashion by reselling gently used apparel. This approach positions thredUP as a key player in the rapidly growing secondhand apparel industry, addressing both consumer demand for affordable fashion and environmental consciousness.
How much funding has thredUP raised?
thredUP has raised a total of $518.7M across 8 funding rounds:
Series A
$1.7M
Series B
$7M
Series C
$14.5M
Series D
$23M
Series E
$81M
Series F
$175M
Stock Offering
$168M
Stock Offering
$48.5M
Series A (2010): $1.7M with participation from High Line Ventures, NextView Ventures, Founder Collective, and Trinity Ventures
Series B (2011): $7M led by Brian Swette, NextView Ventures, and Trinity Ventures
Series C (2012): $14.5M supported by Highland Capital Partners and Trinity Ventures
Series D (2014): $23M featuring Trinity Ventures, Red Point Ventures, and Highland Capital Partners
Series E (2015): $81M backed by Upfront Ventures, Redpoint Ventures, Trinity Ventures, and Highland Capital Partners
Series F (2019): $175M, investors not publicly disclosed
Stock Issuance/Offering (2021): $168M, investors not publicly disclosed
Stock Issuance/Offering (2021): $48.5M, investors not publicly disclosed
Key Investors in thredUP
Trinity Ventures
Trinity Ventures is an early-stage investment firm dedicated to supporting mission-driven entrepreneurs and transforming their ambitious visions into reality. The firm invests in a diverse range of industries, exemplified by its portfolio that includes companies like Turos, Side, and Markforged. With a commitment to fostering lasting relationships and providing hands-on support, Trinity Ventures focuses on building high-impact businesses.
Highland Capital Partners
Highland Capital Partners is a venture capital firm that focuses on investing in entrepreneurs and innovative startups. With a track record of 200 exits, over 50 IPOs, and 40 unicorns, the firm manages $7 billion in assets under management. Their primary clients include entrepreneurs seeking funding and support to grow their businesses.
Redpoint Ventures
Redpoint Ventures was founded in 1999 and is a venture capital firm focused on investments in early growth-stage companies.
What's next for thredUP?
The recent major strategic investment suggests thredUP is poised for further scaling and potentially exploring new market opportunities or technological advancements. Given its enterprise-level funding context, the company is likely focused on solidifying its market leadership, enhancing its logistics and processing capabilities, and potentially expanding its service offerings. Future strategic moves may involve deeper integration into the fashion ecosystem, further technological innovation in inventory management, and continued efforts to promote sustainable consumption patterns within the apparel sector.
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