Cambridge, MA-based thredUP, an online startup helping parents swap used children’s clothing, said it has raised $1.4 million in Series A-1 funding, led by Menlo Park, CA-based Trinity Ventures. Founder Collective, High Line Ventures, and NextView Ventures also contributed to the financing, which will go to refining the company’s product and hiring staff in engineering and in the Web customer acquisition space, CEO James Reinhart told me. In April I profiled thredUP—which has raised a total of $1.7 million—when it was preparing to launch its kids’ apparel exchange. (It originally started as an online marketplace for used men’s and women’s shirts). It has since acquired more than 10,000 users and saved parents $195,000 in clothing costs, the company says.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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