thredUP Inc, the nations leading online platform for swapping kids clothes, toys and books, today announced that it has secured $ 7M in series B financing, bringing total committed capital to $ 8.7M. Redpoint Ventures led the round with Trinity Ventures and former eBay CEO, Brian Swette participating. Tim Haley of Redpoint Ventures will join Patricia Nakache of Trinity Ventures on thredUPs Board of Directors.
This new funding comes just one year after thredUPs launch and significant company milestones. thredUP will swap its millionth item this month and is now adding over 1,000 moms a day.
Weve spent the past year building a remarkable swapping experience for moms across the country. thredUP couples the simplicity of traditional hand-me-downs with a massive online network like eBay. We connect strangers in meaningful ways, enabling them to share things they no longer need and become better citizens of the planet, said James Reinhart, CEO at thredUP.
Were excited to have such a great group of investors on board who share our vision. I think this infusion of capital will help us bring thredUP to the homes of millions of families everywhere. Weve just scratched the surface of what the peer-to-peer space can become.
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