Retailer thredUp Raises $175 Million

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thredUp, a re-seller of women and children’s clothing, received new funding to boost its re-seller-as-a-service platform.

The San Francisco based startup raised $175 million in venture funding. It raised $300 million so-far since its launch. The funding was led by two investors, Irving Investors and Park West Asset Management, with Upfront Ventures, Redpoint Ventures, Highland Capital Partners, and Goldman Sachs Investment Partners participating in this round.

The online based retailer not only lets customers trade in their clothing without leaving their home, but has also struck agreements with major retailers such as Macy’s and JCPenney to sell curated selections of clothing in their stores.

thredUp will use the new funding to expand its infrastructure and increase the automated distribution centers helping the startup sort through the 100,000 items it receives every day.