Threadflip has just taken in $13 million in Series B funding in a round led by Norwest Venture Partners—bringing the online consignment marketplace’s total funding to $21.1 million.
The new funding will go toward Threadflip’s most popular service: Consignment Full Service, reports TechCrunch. The white glove service allows users to order a “closet refresh package,” where Threadflip mails the fashionista a free, prepaid shipping bag to fill and send back with items for sale. Threadflip’s stylists then do the sorting, photographing and uploading the items for sale marketplace. This all happens within 24 hours.
Threadflip will hire at least 20 more merchandising and operations people to help support and expand their Consignment Full Service, a more than 40 percent increase on Threadflip’s current workforce of 36 full time and 12 part-time employees.
Threadflip competes with Thredup, Twice and The RealReal, all of which offer similar white glove services.
There are rumors that the company may also expand to other verticals beyond just women’s clothing and that Threadflip is pursing partnership deals as well, but there are no confirmed details on either move as of yet.
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