thredUP Collects $14.5M in Series C Funding
Clothing Service Puts Expansion Plans into Full Gear
Kid’s clothing service thredUp has announced additional funding, $14.5M in Series C. The round was led by Highland Capital Partners along with participation for existing investors Trinity Venures and Redpoint Ventures.
With a drastic increase in users (approximately 400,000), the company has plans to expand into both teen and adult apparel (adult apparel will include women, men and maternity). With the new funding thredUp also plans to scale the kids’ clothing business. Total funding to date is $23 million.
thredUP is the easiest way to save on great kids clothing brands, and hand down outgrown clothes for cash. We're like a consignment boutique – but simpler. On thredUP you can refresh your child's entire wardrobe online, without ever leaving your house.
Here's how it works:
Browse thousands of like-new kids clothing items, which we've hand-selected and certified for quality. You'll find all your favorite brands discounted up to 75% off year-round.
When your child outgrows clothing, simply fill up a thredUP bag and put it on your doorstep. thredUP covers the shipping, and pays you for every item we can hand down to other moms.
By Lolita A. Alford