Total amount raised
$16.4 Million
Latest funding date
03/01/2024
Location
Treet has successfully raised funding over four rounds, with the latest being a Series A round. The company is backed by 12 investors, including Bling Capital, Techstars, and Two Sigma Ventures.
Keep reading to explore the intricacies of Treet's fundraising journey and the investors backing this innovative platform.
What Is treet?
Treet is a private company based in San Francisco, California, specializing in e-commerce, fashion, and retail. The company offers branded resale solutions for direct-to-consumer brands, helping them grow responsibly through resale.
With an employee count ranging from 11 to 50, Treet provides stackable resale solutions, including Peer-to-Peer, Trade-In, Off-Price, and Returns. These solutions aim to drive revenue, boost customer loyalty, and promote sustainability.
How Much Funding Has treet Raised?
- Pre-Seed Round
- Amount Raised: USD 120,000
- Date: January 2021
- Lead Investors: Techstars
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Seed Round
- Amount Raised: USD 2,800,000
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Seed Round
- Amount Raised: USD 3,500,000
- Date: October 2022
- Lead Investors: First Round Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and onboard more brands onto the platform.
- Series A Round
- Amount Raised: USD 10,000,000
- Date: March 2024
- Lead Investors: Two Sigma Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Treet's resale platform and attract more brands to secondhand resale.
Total Amount Raised: USD 16,420,000. Current Valuation: Not publicly disclosed.
Key Investors
- Two Sigma Ventures
- Details: Two Sigma Ventures is a venture capital firm that invests in early-stage technology companies. They led Treet's Series A funding round.
- Investment Focus Areas: Technology, data-driven companies.
- Notable Investments: Socure, Rigetti Computing, Zymergen.
- First Round Capital
- Details: First Round Capital is an early-stage venture capital firm that focuses on seed-stage investments. They participated in Treet's seed funding rounds.
- Investment Focus Areas: Seed-stage technology startups.
- Notable Investments: Uber, Square, Warby Parker.
- Bling Capital
- Details: Bling Capital is a venture capital firm that invests in early-stage technology companies. They have been involved in Treet's funding rounds.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Airtable, Lyft, Stripe.
- Techstars
- Details: Techstars is a global platform for investment and innovation that helps entrepreneurs succeed. They were a lead investor in Treet's pre-seed round.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: SendGrid, DigitalOcean, Sphero.
What's Next for treet?
Treet is poised to capitalize on the growing resale market, leveraging its asset-light model to attract more brands. With the recent $10 million Series A funding, the company plans to expand its platform, offering branded resale solutions that integrate seamlessly with brands' existing systems. This expansion could significantly increase Treet's market presence, as it already powers resale for over 150 brands.
Future fundraising opportunities seem promising, given the successful Series A round and the involvement of prominent investors like Two Sigma Ventures and First Round Capital. As the resale market continues to grow, Treet may attract additional investments to further enhance its technological capabilities and user experience.
However, Treet faces challenges such as competition from established resale platforms and ensuring the quality and authenticity of secondhand items. Maintaining profitability while scaling the business and onboarding new brands will also be crucial. Despite these challenges, Treet's innovative approach and strong investor backing position it well for future growth.
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