ThirdLove brings in $55 million in funding
today Feb 27, 2019
Direct-to-consumer lingerie brand ThirdLove continues to flourish, completing a $55 million fundraising round.
Following its most recent expansion of bra sizes, the new funds will allow ThirdLove to continue developing its size range, as well as its styles, product offering and fit technologies, helping the brand to deliver on its promise to make products for an ultra-diverse audience of women.
A testament to Thirdlove's momentum, the company said it "was not looking for new capital" in a press statement, but that the round was done preemptively by consumer-brand focused firm L. Catterton (owned in part by LVMH and Groupe Arnault) and investment bank Allen & Company, along with prominent women angel investors o-founder and CEO of 23andMe Anne Wojcicki, CEO of YouTube Susan Wojcicki, journalist and author Katie Couric and Nancy Peretsman, managing director of Allen & Company, who participated independently of the bank.
Former CEO of Oath and AOL Tim Armstrong, founder of Lyrical Partners Jeff Keswin, and Michael Zeisser – former U.S. chairman at Alibaba Group, Felicis Ventures, and Valor Equity – also participated in the round.
"We are more dedicated than ever to giving all women the level of choice they deserve," said the company's co-founder and co-CEO Heidi Zak. "We recently increased our offerings to a total of 78 bra sizes in five beautiful styles and we have no intention of stopping here."
Things are looking bright for Thirdlove as investor attention overlaps with the company's multiple accolades, including “Next Billion Dollar Startup” from Forbes and the “2019 Disruptor of the Year” Award from the National Retail Federation. The brand was also named in the style category of Fast Company’s “Most Innovative Companies 2019” list.
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