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In the last 18 months, Thrasio has seen a significant increase in gross revenue and has acquired over 40 businesses and integrated them onto its proprietary operating platform
Fremont, CA: The acquirer of Amazon third party private label business, Thrasio, secured over USD 100 million in fresh capital, including USD 75 million in a Series B Preferred equity round and an additional USD 35 million in debt capacity. The newly raised money takes the company's total raised capital to over a quarter billion USD. The Series B financing round valued the company at over USD 700 million, a 32 times increase in the last 12 months.
"I love what Josh Silberstein and Carlos Cashman (the co-CEOs of Thrasio) are doing. They've built one of the fastest-growing companies in recent memory - and they've done it thoughtfully and collaboratively, without sacrificing operational discipline. It's the embodiment of two awesome humans building a business that is a clear implementation of their values and vision," said Jason Finger, Seed investor and founder of Seamless.
In the last 18 months, Thrasio has seen a significant increase in gross revenue and has acquired over 40 businesses and integrated them onto its proprietary operating platform. The company's team has grown over ten times in size. Thrasio has also been profitable since inception, and now has over $35mm in Pro Forma TTM EBITDA.
"Companies like Thrasio are the reason we started Upper90. Thrasio had a truly innovative business model, strong unit economics, a large moat, and experienced founders, but most other lenders chose to focus on its short operating history and the amount of equity that had been raised. Upper90 understood the opportunity - and Thrasio's needs. We created a facility providing timely capital, operational flexibility, and the ability to scale. The initial commitment has now been upsized by over 20x," says Alex Urdea, partner at Upper90.
Thrasio's Fulfilled by Amazon (FBA) ecosystem acts as a unique launchpad for brand success, but as small sellers' niche brands evolve into multimillion-dollar businesses, they become complicated, and capital constrained, prompting many sellers to seek a successful exit. "Thrasio is that rare place that offers a fun, laid back workplace while simultaneously being highly organized and driven to succeed. I love being a part of this company - and if our 99% employee retention rate is any indication, I'm not the only one who feels that way," says Stephanie Fox, SVP of Brand Operations.
See also: Top Retail Tech Companies
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