Thrasio Grabs $1B+ in Private Funding Round

Thrasio Holdings Inc., a third-party aggregator of Amazon products, has raised more than $1 billion in private funding, according to a Bloomberg report Monday (Oct. 25).

The Series D fundraising effort was led by technology investment platform Silver Lake, a new investor in the Walpole, Massachusetts-based Thrasio. Advent International, Upper90, Oaktree Capital Management and Peak6 were among the existing investors to contribute to the funding round, which pushed Thrasio’s valuation to more than $5 billion, one person familiar with the situation told Bloomberg.

Silver Lake managing director Stephen Evans said most of the money from the most recent Thrasio fundraising round will go toward combining existing brands into the Thrasio umbrella.

Thrasio, which is likely to realize $1 billion in revenue this year, operates on Amazon in the U.S., Japan and Europe. The company plans to add India to its portfolio and could sell on other online retail platforms as well.

Thrasio last had a private funding round in July 2020 at a valuation of $1 billion. It had its best month of online sales on Amazon and other marketplaces in September with about $100 million in sales.

Last month, Thrasio announced a $650 million debt facility via JPMorgan Chase & Co. The company’s last private funding was in July 2020, when it was valued at $1 billion before the new financing. It oversees more than 200 brands.

Related: Amazon Aggregator Thrasio Cancels SPAC Plans Amid Leadership Shakeup

Earlier this month, Thrasio canceled its special-purpose acquisition company (SPAC) merger plans as the company fights to overcome changes on its leadership team and “complications with its financial audits.”

The company will still explore that option, as well as a more traditional initial public offering (IPO).

Chief Financial Officer Bill Wafford left Thrasio in July, just three months after joining the company from JCPenney. The company appointed Brian Cooper, chairman of marketing company Networx, as interim CFO. And last month, Co-founder Josh Silberstein resigned as co-CEO, leaving fellow Co-founder Carlos Cashman to serve as the CEO.