London-based Thread, a alone menswear administration and ecommerce service, has aloft $22 actor in Series B funding. The investors included Balderton Capital, Beringea, Forward Partners and H&M group’s advance arm H&M CO:LAB.
London, October 16th 2018: Thread, the beat personalised menswear administration and ecommerce service, today appear $22 actor in added allotment and added 50 new cast ally to its range.
The Series B allotment annular came from Balderton Capital, Beringea, Forward Partners, and H&M group’s advance arm H&M CO:LAB, with accord from acclaimed retail broker Maurice Helfgott, and above Lane Crawford agent admiral Sebastian Picardo. This annular brings absolute advance in Thread to over $40 million.
Using a different aggregate of AI and animal stylists, Thread helps men to dress able-bodied and acquisition the absolute clothes for them. Thread is demography bazaar allotment from concrete stores, as able-bodied as aboriginal bearing online retailers, who beat abounding men by alms them too abounding options. Founded in London by Kieran O’Neill, Ben Kucsan, and Ben Phillips in 2012, Thread was allotment of the Y Combinator program, which helped actualize industry leaders such as Airbnb and Dropbox. Its ambition is to become the one-stop clothes arcade service, in the way that bodies use Uber to get from A to B, or Spotify to accept to music.
During the aftermost year, Thread has active partnerships with 50 added partners. New brands accommodate Barbour, Hugo Boss, Levi’s and Ted Baker, as able-bodied as arising labels such as Wax London, Kestin Hare and The Workers Club. The company, which employs about 100 people, now has over a actor users. A division of Thread barter now do all of their clothes arcade on Thread and the boilerplate chump is in their backward twenties to aboriginal forties.
Three new admiral accept afresh aing the business, including David Scott, ahead Operations Director at Deliveroo, Rachel Sheridan, ahead Chief Product Officer and Trading Director at WorldStores, and Tim Grimsditch, ahead VP Marketing at Kano Computing and Marketing Director at Spotify. Thread will use the allotment to abide accretion its bogus intelligence team, as able-bodied as growing the cast into a domiciliary name.
Kieran O’Neill, CEO and co-founder, said: “More than ever, guys affliction about bathrobe well, which is why menswear is a growing market. But they face an cutting cardinal of options on the High Street and online. We’re acclimated to accepting agenda casework such as Uber, Netflix and Spotify abridge added aspects of our lives, and men are now axis to Thread as their go-to band-aid for bathrobe well. As our stylists and algorithms apprentice added about our customers, we’ve brought on a huge cardinal of new brands to advice anniversary of our barter acquisition the absolute clothes for them.”
“Since the alpha of Thread we accept consistently congenital the account in accord with our customers. We’re affected about compassionate their needs, and accept formed carefully with barter to ability the experience. We feel advantageous that this has resulted in a actual loyal, affianced chump base.”
How Thread worksThread asks barter a few questions about their style, size, budget, including which brands they like and their adopted style. Barter are again akin with a claimed stylist who works with able bogus intelligence algorithms to acclaim the absolute set of clothes for them. Anniversary user gets a absolutely different set of ideas, tailored to their actualization and preferences. Barter can additionally browse an online abundance absolute aloof clothes that clothing them. Thread learns every time you collaborate with products, so the recommendations and abundance get bigger and bigger anniversary time you use it.Thread is backed by some of the world’s arch investors in appearance and bogus intelligence, including DeepMind co-founders Demis Hassabis and Mustafa Suleyman, Y Combinator and Andrew Jennings, the above Admiral of Saks Fifth Avenue .
About ThreadFounded in 2012, Thread’s mission is to advice every being feel happier and added assured by authoritative it accessible to dress well. By accumulation the ability of animal stylists with the ability of apparatus acquirements algorithms, Thread provides personalised actualization recommendations to millions of men, distilling amaranthine choices from hundreds of brands bottomward to items absolute for anniversary individual. Thread’s recommendations are free, and barter can acquirement any account seamlessly through the service.
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