Total amount raised
$40.7 Millions
Latest funding date
11/01/2021
Location
Thread has successfully raised significant funding over multiple rounds, with notable investors such as Rachel Zoe Ventures and Venrex backing the company. The platform combined cutting-edge AI with expert stylists to offer personalized fashion recommendations, ultimately leading to its acquisition by Marks & Spencer.
Keep reading to explore the intricacies of Thread's fundraising journey and the investors who supported this innovative platform.
What Is Thread?
Thread, founded on June 5, 2012, by Ben Phillips, operated as an online personal styling platform. The company was headquartered in London, England, and specialized in E-Commerce, Fashion, and Internet industries.
Combining human stylists with machine learning algorithms, Thread provided personalized clothing recommendations. The company had an employee count ranging from 101 to 250 before its acquisition by Marks & Spencer.
How Much Funding Has Thread Raised?
- Funding Round: Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial technology.
- Funding Round: Series A
- Amount Raised: £4.4M
- Date: August 2015
- Lead Investors: Balderton Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Funding Round: Venture Round
- Amount Raised: £4M
- Date: June 2016
- Lead Investors: Beringea
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Funding Round: Series B
- Amount Raised: £16.7M
- Date: October 2018
- Lead Investors: H&M Group Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI technology and expand internationally.
- Funding Round: Equity Crowdfunding
- Amount Raised: £2M
- Date: October 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To engage the community and raise additional capital for growth.
- Funding Round: Debt Financing
- Amount Raised: $3.3M
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage cash flow and support ongoing operations.
- Funding Round: Series B
- Amount Raised: Not publicly disclosed
- Date: November 2021
- Lead Investors: Rachel Zoe Ventures, Venrex
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling the business and enhance the user experience.
Total Amount Raised: £27.4M + $3.3M
Current Valuation: Not publicly disclosed
Key Investors
- Rachel Zoe Ventures
- Details: Rachel Zoe Ventures is an investment firm founded by the renowned fashion designer and entrepreneur Rachel Zoe. The firm focuses on supporting innovative companies in the fashion and lifestyle sectors.
- Investment Focus Areas: Fashion, Lifestyle, E-Commerce
- Notable Investments: Not publicly disclosed
- Venrex
- Details: Venrex is a venture capital firm based in London, known for investing in early-stage companies across various industries. The firm has a strong track record of supporting high-growth startups.
- Investment Focus Areas: Technology, Consumer Goods, Healthcare
- Notable Investments: Not publicly disclosed
- H&M Group Ventures
- Details: H&M Group Ventures is the investment arm of the global fashion retailer H&M. The firm focuses on investing in innovative companies that align with H&M's sustainability and fashion-forward goals.
- Investment Focus Areas: Fashion, Sustainability, Technology
- Notable Investments: Not publicly disclosed
- Beringea
- Details: Beringea is an international venture capital firm with offices in the US and UK. The firm invests in high-growth companies across various sectors, providing both capital and strategic support.
- Investment Focus Areas: Technology, Healthcare, Media
- Notable Investments: Not publicly disclosed
- Balderton Capital
- Details: Balderton Capital is one of Europe's leading venture capital firms, focusing on early-stage investments in technology companies. The firm has a strong portfolio of successful startups.
- Investment Focus Areas: Technology, Fintech, E-Commerce
- Notable Investments: Not publicly disclosed
What's Next for Thread?
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