NEW YORK, Dec. 3, 2019 /PRNewswire/ -- Thrasio, one of the fastest growing consumer products companies in the country, announced today that it has closed its Series A financing, raising a total of $20mm in fresh capital from an impressive group of investors – including three funds which each have more than a billion dollars under management. The round was led by Peak6 and Upper 90, and included a notable investment from WTI, among others.
Between April and November, the company's valuation has increased by 8.6x, providing solid returns to the investors in the Series Seed financing. The Series Seed investors are a stellar list of successful entrepreneurs and investors – one that includes the CEO and Chairman of Atlantic Records, an NBA franchise owner, and the founders of Seamless.
In just 18 months since its founding, Thrasio has become one of the fastest-growing acquirers of Amazon third-party private label brands, and is well on its way to building the consumer products company for the next century. "Amazon deserves more credit than they've been given: their Third-Party seller program may be the most potent platform for entrepreneurship ever created. As Sellers' niche brands evolve into multimillion-dollar businesses they become increasingly complex, prompting many sellers to seek a successful exit," said Joshua Silberstein, Thrasio co-founder and co-CEO. "That's where Thrasio comes in. We acquire high quality, category-leading products on Amazon that consumers love, giving these small business owners their hard-won payday. Every company we buy is integrated into our own best-in-class Amazon operating platform, allowing these brands to continue to grow and flourish."
"Our teams seamlessly onboard companies and firm up operations through expertise in brand management marketing, search optimization, product development and supply chain management, delivering day to day growth," said Carlos Cashman, Thrasio co-founder and co-CEO. "We're creating a new best-in-class operator category on Amazon and beyond."