Threads Styling, the luxury chat-based shopping platform, has announced it has raised a $12m (£9m) fundraising round led by Highland Europe and C Ventures, with participation from BVYP and TriplePoint Capital.
It said the funding will enable Threads to continue to expand its current product offering, allowing it to “service clients at 360 degrees whilst amplifying its brand new, curated e-commerce website and dedicated Live Shopping events”. The round forms part of a dual-raising strategy that sees Threads give customers the opportunity to invest in the company through a crowdfunding campaign with Crowdcube.
Following “continued strong growth” of the business over the pandemic period, Threads will use the capital from this round to accelerate and build its product offering, diversifying its social first business model to expand and amplify the ways in which it can cater to its clients needs.
The round follows Threads’ recent launch of an e-commerce platform and a dedicated Live Shopping strategy.
Sophie Hill, founder and CEO of Threads Styling, said: “The landscape of luxury is changing, our experience has proven that combining relatable inspiration with a convenient client first service has answered the needs of the new gen luxury shopper. This new round of investment will drive further expansion of our model through our new e-commerce platform and live shopping events on social media.
“We’re incredibly grateful to our investors for their continued support and, given our community has been an important part of our growth over the years, we’re excited to formally welcome the next generation of investors into the Threads family.”