How Much Did ThirdLove Raise? Funding & Key Investors

ThirdLove has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company specializes in offering a range of bras and underwear designed for every body type.

Keep reading to explore the intricacies of ThirdLove's fundraising journey and the investors backing this innovative brand.

What Is ThirdLove?

ThirdLove, founded in 2013 by David Spector, Heidi Zak, and Ra'el Cohen, is a women's lifestyle brand based in San Francisco, California. The company specializes in offering a range of bras and underwear designed for every body type.

With a mission to help every woman find her perfect fit, ThirdLove uses real women's measurements to create bras with proprietary ½-cup sizes. Their product line includes various types of bras and underwear, such as the 24/7 Classic T-Shirt Bra and the Form 360 Fit Wireless Bra.

Currently, ThirdLove employs between 101-250 people, focusing on fit, quality, and sustainability. The company emphasizes attention to detail and community support, aiming to provide a superior fit for women everywhere.

How Much Funding Has ThirdLove Raised?

1. Seed Round
   • Amount Raised: $5.6M
   • Date: August 2013
   • Lead Investors: New Enterprise Associates
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop the initial product line and establish market presence.
2. Series A
   • Amount Raised: $8M
   • Date: February 2016
   • Lead Investors: New Enterprise Associates
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and expand the product range.
3. Series B
   • Amount Raised: $55M
   • Date: February 2019
   • Lead Investors: Allen & Company, L Catterton
   • Valuation at Round: Over $750M
   • Motivation Behind the Round: To enhance technology and expand market reach.
4. Venture Round
   • Amount Raised: Not publicly disclosed
   • Date: February 2021
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support ongoing growth and innovation.
5. Debt Financing
   • Amount Raised: $12M
   • Date: August 2023
   • Lead Investors: Second Avenue Capital Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To manage cash flow and operational expenses.

Total Amount Raised: $80.6M

Current Valuation: Over $750M

Key Investors

• New Enterprise Associates
  • Details: New Enterprise Associates (NEA) is a global venture capital firm that invests in technology and healthcare companies. Founded in 1977, NEA has a long history of supporting innovative startups.
  • Investment Focus Areas: Technology, healthcare, consumer products
  • Notable Investments: Robinhood, Coursera, Uber
• L Catterton
  • Details: L Catterton is a private equity firm specializing in consumer brands. It was formed through the partnership of Catterton, LVMH, and Groupe Arnault.
  • Investment Focus Areas: Consumer brands, retail, health and wellness
  • Notable Investments: Peloton, Equinox, Restoration Hardware
• Allen & Company
  • Details: Allen & Company is a private investment bank known for its work in media and technology sectors. Founded in 1922, it has a reputation for advising high-profile clients.
  • Investment Focus Areas: Media, technology, entertainment
  • Notable Investments: Google, Facebook, Twitter
• Second Avenue Capital Partners
  • Details: Second Avenue Capital Partners provides customized financing solutions to retail and consumer product companies. They focus on supporting growth and operational needs.
  • Investment Focus Areas: Retail, consumer products, growth financing
  • Notable Investments: Not publicly disclosed
• Anne Wojcicki
  • Details: Anne Wojcicki is the CEO and co-founder of 23andMe, a personal genomics and biotechnology company. She is known for her contributions to the health and biotech sectors.
  • Investment Focus Areas: Health, biotechnology, consumer technology
  • Notable Investments: 23andMe, Not publicly disclosed

What's Next for ThirdLove?

ThirdLove stands at the cusp of significant growth opportunities. With the decline of traditional competitors like Victoria's Secret, the company can capitalize on expanding its product offerings and leveraging technology for personalized fitting experiences. The recent $55 million funding round, which brought their valuation to over $750 million, sets the stage for further expansion and innovation.

Future fundraising efforts are likely to propel ThirdLove towards unicorn status, enabling them to enhance their technology and product development. However, the path ahead is not without challenges. The company must navigate competition from other direct-to-consumer brands and maintain customer satisfaction as they scale. Balancing growth with operational efficiency will be crucial for sustained success.

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