Startups Venture

App-Powered Bra Seller ThirdLove Raises $55M

ThirdLove, the direct-to-consumer women’s bra and underwear company, announced today the completion of a $55 million fundraising round. TechCrunch reports that the company’s valuation reached “over $750 million” thanks to the new fundraising.

Subscribe to the Crunchbase Daily

That puts the company on track to reach unicorn status when it raises again. The latest round brings total financing for the six-year-old company to $69 million, a somewhat low figure for a company worth three-quarters of a billion dollars.

ThirdLove’s recent funding round represents around 80 percent of its total funding to date.

A long list of backers participated in the financing, including consumer-brand focused firm L. Catterton and investment bank Allen & Company. Individual investors in the round included Anne Wojcicki, CEO of genetic testing company 23andMe, Susan Wojcicki, CEO of YouTube, and journalist Katie Couric, and others.

ThirdLove’s rise comes during a difficult time for some in its market. Victoria’s Secret has fallen on hard times in recent quarters, for example.

San Francisco-based ThirdLove is known for its large size range (it differentiates from other bra-makers by offering half-cup sizes) and its algorithm-powered online fitting application. To date, the company says more than 12 million women have used its Fit Finder app to find their bra size.

Illustration: Li-Anne Dias

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Copy link