Total amount raised
$261.5 Million
Latest funding date
1/1/2024
Location
Quince has successfully raised funds over 9 rounds, with the latest being a Series D round led by ICONIQ Capital. The company is backed by 17 investors, including DST Global and Notable Capital.
Keep reading to explore the intricacies of Quince's fundraising journey and the investors backing this innovative platform.
What Is Quince?
Quince is a private company based in San Francisco, California, specializing in apparel, home goods, and accessories. The company operates on a factory-direct model, selling products directly from factories to consumers, which allows them to offer high-quality essentials at affordable prices.
With an employee count ranging from 251 to 500, Quince has made a significant impact in the e-commerce and retail industries. The company emphasizes sustainability and ethical manufacturing practices, ensuring that their products are not only luxurious but also environmentally friendly.
How Much Funding Has Quince Raised?
- Round Name: Seed
- Amount Raised: USD 5,000,000
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and establish its initial market presence.
- Round Name: Seed
- Amount Raised: USD 3,500,000
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand the team.
- Round Name: Seed
- Amount Raised: USD 6,000,000
- Date: January 2021
- Lead Investors: 8VC, Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the technology platform.
- Round Name: Series A
- Amount Raised: USD 50,000,000
- Date: November 2021
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve product offerings.
- Round Name: Series B
- Amount Raised: USD 77,000,000
- Date: May 2023
- Lead Investors: Wellington Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel expansion efforts and disrupt the retail industry with its M2C model.
- Round Name: Series C
- Amount Raised: USD 120,000,000
- Date: January 2025
- Lead Investors: Notable Capital, Wellington Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expand product lines.
- Round Name: Series D
- Amount Raised: USD 290,000,000
- Date: July 2025
- Lead Investors: ICONIQ Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance market presence.
Total Amount Raised: USD 551,500,000. Current Valuation: Not publicly disclosed.
Key Investors
- ICONIQ Capital
- Details: ICONIQ Capital is a global multi-family office and merchant bank. They manage investments for influential families and organizations.
- Investment Focus Areas: Technology, media, and telecommunications.
- Notable Investments: Airbnb, Uber, Snowflake.
- Notable Capital
- Details: Notable Capital is a venture capital firm that invests in early to growth-stage companies. They focus on disruptive technologies and innovative business models.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Not publicly disclosed.
- Wellington Management
- Details: Wellington Management is one of the largest independent investment management firms in the world. They serve institutional clients and manage a diverse range of assets.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Not publicly disclosed.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. They focus on growth-stage technology and software companies.
- Investment Focus Areas: Software, internet, data services.
- Notable Investments: Shopify, Twitter, Qualtrics.
- 8VC
- Details: 8VC is a venture capital firm that invests in transformative technology companies. They focus on building and scaling companies that create long-term value.
- Investment Focus Areas: Technology, healthcare, logistics, financial services.
- Notable Investments: Palantir, Wish, Guardant Health.
What's Next for Quince?
Quince is poised to capitalize on the growing demand for affordable luxury goods by expanding its product offerings and strengthening its supply chain. The company's innovative M2C model positions it well to disrupt the retail industry, offering high-quality products directly to consumers while minimizing waste.
With significant funding already secured, Quince has the potential to attract further investment as it continues to grow. However, the company will need to navigate challenges such as optimizing its supply chain and maintaining product quality at scale. As Quince expands, it will also face competition from established luxury brands, making strategic planning crucial for sustained success.
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