Beringea leads £4m round for Balderton-backed Thread.com

The fresh capital will enable the business to expand its team and ramp up its UK activities.

European personalised styling platforms have attracted significant attention from venture capital firms in recent years. Investments include Northzone's $20m round for Outfittery, 360 Capital Partners' €4m round for Chictypes, Fidelity Growth Partners Europe's $11m series-B for Stylistpick and Connect Ventures' €1.2m round for The Cloakroom.

Previous funding
Balderton led a $8m series-A for Thread.com in August 2015, marking the second investment from the VC's $305m fifth fund.

Company
Established in 2012, London-based Thread.com is an online stylist service targeting male clothes shoppers. The company, which currently has a total headcount of 30, combines algorithms and input from a team of eight stylists to provide tailored advice to users.

Thread.com has undertaken various partnerships with retailers including Liberty, Urban Outfitters, Sunspel and Hardy Amies, among others.

People
Beringea – Karen McCormick (partner, chief investment officer); Rob Dagger (investment analyst).
Balderton Capital – Daniel Waterhouse (partner).
Thread.com – Kieran O'Neill (CEO); Ben Phillips (CTO); Ben Kucsan (creative director).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• Beringea Limited
• Balderton Capital
• United Kingdom