Direct-to-consumer bra and underwear retailer ThirdLove on Tuesday announced that it has raised $55 million in its latest funding round.
The round was conducted by consumer brand-focused firm L. Catterton—owned partly by LVMH, No. 131 in the Internet Retailer Top 1000, and Groupe Arnault—and investment bank Allen & Company, along with co-founder and CEO of genetic testing company 23andMe Anne Wojcicki, YouTube CEO Susan Wojcicki and journalist Katie Couric, among others. Altogether, ThirdLove has raised $68.6 million since its founding in 2013, according to Crunchbase.
“This new funding round allows us to continue delivering on ThirdLove’s mission to create a bra for everybody,” says Heidi Zak,co-founder and co-CEO of ThirdLove. “We are more dedicated than ever to giving all women the level of choice they deserve.”
ThirdLove offers 78 bra sizes—cup sizes ranging from AA to I, including half-cup sizes, and bands ranging from 30 inches to 48 inches—in five different styles. On ThirdLove.com, shoppers can fill out a Fit Finder quiz to find their perfect bra size. More than 12 million shoppers have used the Fit Finder since its launch, the bra retailer says. With the new funding, ThirdLove will be able to expand to even more sizes, styles, products and fit technologies, Zak says.
ThirdLove, No. 507 in the Internet Retailer 2018 Top 1000, also donates bras to women in need. It has donated $10 million worth of bras through its charitable giving partner I Support the Girls, which donates bras to homeless girls and women.
In other ecommerce funding news:
- Shoe retailer Foot Locker Inc., No. 44, invested $12.5 million in children’s apparel retailer Rockets of Awesome, bringing its total funding to $19.5 million in a Series C funding round. It has raised $29.5 million since its founding in 2016, according to Crunchbase. Foot Locker will add Rockets of Awesome products to its kids’ apparel section at KidsFootLocker.com, as well as in stores where it will create an exclusive Rockets of Awesome section. With this investment, Foot Locker will be largest retailer of Rockets of Awesome products in the U.S. in stores.
- Ecommerce party supply platform Coterie launched in the U.S. on Feb. 20 after raising $2.75 million in funding, including a pre-seed round by Female Founders Fund and a seed round led by Canaan, with participation from Global Founders Capital and Female Founders Fund. The platform, CoterieParty.com, offers party supplies in nine themed sets, such as bridal shower, baby shower and garden party, which start at $49 for 10 guests. Consumers throwing a party choose their occasion on the platform and select the number of party guests, then Coterie sends them all the items needed to throw their party, such as tableware and balloons.