Total amount raised
$40.7 Million
Latest funding date
11/01/2021
Location
Thread has raised funding over 9 rounds, with the latest being a Series B, and is backed by 23 investors including Rachel Zoe Ventures and Venrex. The company, which was acquired by Marks & Spencer, combined AI with expert stylists to offer personalized fashion recommendations.
Keep reading to explore the intricacies of Thread's fundraising journey and the investors backing this innovative platform.
What Is Thread?
Thread, an AI-driven fashion platform, was founded approximately in 2013. Based in London, England, the company operates in the e-commerce, fashion, and internet industries. It was co-founded by Kieran and Ben, and employs between 101-250 people.
Thread's mission was to simplify fashion choices for men and women by combining AI technology with expert stylists. The company was acquired by Marks & Spencer, integrating its technology, brand, and data into M&S's offerings.
How Much Funding Has Thread Raised?
- 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.
- Series A
- Amount Raised: USD 6,000,000
- 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.
- Series Unknown
- Amount Raised: USD 5,400,000
- Date: June 2016
- Lead Investors: Beringea
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Equity Crowdfunding
- Amount Raised: USD 2,700,000
- Date: October 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To engage the community and raise funds for further development.
- Series B
- Amount Raised: USD 22,000,000
- Date: October 2018
- Lead Investors: H&M Group Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI technology and expand the product line.
- Debt Financing
- Amount Raised: USD 3,340,000
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage cash flow and operational expenses during the pandemic.
- Series B
- Amount Raised: Not publicly disclosed
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling the business and improve customer experience.
- Series B
- Amount Raised: Not publicly disclosed
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further integrate AI and expand market presence.
Total Amount Raised: USD 39,440,000. 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 stylist 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. The firm has a diverse portfolio, including investments in technology and consumer brands.
- Investment Focus Areas: Technology, consumer brands, 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 UK and the US. The firm invests in high-growth companies across various sectors.
- 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. The firm has a strong track record of supporting technology startups.
- Investment Focus Areas: Technology, e-commerce, fintech
- Notable Investments: Not publicly disclosed
What's Next for Thread?
Unfortunately, the provided sources do not contain any relevant information about the opportunities available for Thread, the size of these opportunities, future fundraising opportunities, industry trends, challenges the company might face, or predictions for future fundraising or acquisitions. Therefore, I am unable to fulfill the request based on the given sources.
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