ThirdLove is about to get even more inclusive — with the help of a $55 million cash infusion.
The online lingerie company, which makes bras in 78 different sizes and pitches itself as a brand for women of all shapes and sizes, said it wasn’t looking for money, but will use the new funds to help it expand.
“This new funding round allows us to continue delivering on ThirdLove’s mission to create a bra for everybody,” said Heidi Zak, cofounder and co-chief executive officer. “We are more dedicated than ever to giving all women the level of choice they deserve.”
The brand is sold in half-cup sizes with bands ranging from 30 to 48 inches and cups from AA through I.
Joining in the round were L. Catterton, investment bank Allen & Company, along with prominent women angel investors Anne Wojcicki, cofounder and ceo of genetic testing firm 23andMe; her sister, Susan Wojcicki, ceo of YouTube, and Nancy Peretsman, managing director at Allen & Company, who took an independent stake in the business. Also joining in were Tim Armstrong, former ceo of Oath and AOL, Felicis Ventures and Valor Equity.
The company has over 350 employees and is seen as a growing threat to Victoria’s Secret, which still has a dominant market share in the lingerie market, but has lately been losing its touch with the consumer.