(Filed Under wholesale Lingerie News). ThirdLove announced at the end of February that it had completed a new, “$55 million fundraising round,” that included a range of prominent investors in addition to its original bankers.
A company release explained that “while ThirdLove was not looking for new capital, 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 Anne Wojcicki, co-founder and CEO of genetic testing company 23andMe, Susan Wojcicki, CEO of YouTube, Katie Couric, journalist and author, and Nancy Peretsman, managing director of Allen & Company who participated independently of the bank. Tim Armstrong, former CEO of Oath and AOL, Jeff Keswin, founder of Lyrical Partners, Michael Zeisser, former U.S. chairman at Alibaba Group, Felicis Ventures, and Valor Equity also participated in the round.”
“The new funds allow ThirdLove to continue reaching more women by expanding its sizes, styles, product offerings, and fit technologies, helping the brand to deliver on its promise to make products for every woman’s body.”
Co-CEO Heidi Zak, who founded the company with husband David Spector in 2013, added, “This new funding round allows us to continue delivering on ThirdLove’s mission to create a bra for everybody. We are more dedicated than ever to giving all women the level of choice they deserve. We recently increased our offerings to a total of 78 bra sizes in five beautiful styles and we have no intention of stopping here.”
Investor Anne Wojcicki said: “I’m a big fan of ThirdLove’s mission to build a brand for every woman, regardless of her shape, size, age, ethnicity, gender identity, or sexual orientation. ThirdLove promotes reality over fantasy and shows the spectacular beauty of all sizes, shapes and colors of women.”
The company reported it currently has “more than 350 employees.”
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