ThirdLove Raises $55 Million in Funding
Direct-to-consumer women’s bra and underwear company ThirdLove secured a $55 million fundraising round. 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, YouTube CEO Susan Wojcicki, journalist and author Katie Couric, and Allen & Company managing director Nancy Peretsman, who participated independently of the bank. Tim Armstrong, former CEO of Oath and AOL, Jeff Keswin, founder of Lyrical Partners, Michael Zeisser, former US chairman at Alibaba Group, Felicis Ventures, and Valor Equity also participated in the round.
The company plans to use the funds to continue 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.