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Direct-to-consumer startups — making products that leverage the internet to bypass third-party marketplaces and retailers to engage with and sell directly to their customers — have been one of the biggest categories of growth in the world of e-commerce, and today one of the startups that helped create and prove the model is announcing a big round of funding to take its business to the next stage.
ThirdLove, which started with bras and now makes and sells a variety of lingerie and underwear catering to a wide variety of women’s shapes and sizes — in part through technology it initially developed that used a smartphone camera to size and suggest products — has raised $55 million in funding.
Heidi - Zak - Company - Husband - David
Co-CEO Heidi Zak, who co-founded the company with husband David Spector who the co-CEO (both are ex-Google execs), said in an interview that the money will be used to help ThirdLove add even more sizes beyond the 78 that are offered today (“a bra for every body” is the expression she uses); as well as grow into three new areas: retail, international markets and category expansion into areas such as swim and athletic wear.
Not all of these may be coming online in the next year, she added, but the money will go towards building strategies in all three.
Round - ThirdLove - Valuation - Source - Boost
This round bumps ThirdLove’s valuation up to over $750 million, according to a source. That’s a huge boost considering that the startup has only raised around $68 million since being founded in 2013. ThirdLove is already generating over $100 million in revenues annually, and some 12 million women to date have used Fit Finder, an online tool that determines the right size bra for the shopper.
“I’m a big fan of ThirdLove’s mission to build a brand for every woman, regardless of her shape, size, age, ethnicity, gender...
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