SAN FRANCISCO, CA--(Marketwire - Aug 21, 2012) - Twice, the first concierge-style marketplace for secondhand fashion, today announced a $4MM Series A round of funding. The new funds will help the company build out its team, with a focus on engineering, product, and design.
The Series A investment was led by IA Ventures with a syndicate including Felicis Ventures, Lerer Ventures, SV Angel, CrunchFund, and High Line Venture Partners. Additional investors include Buddy Media CEO Mike Lazerow, Trialpay CEO Alex Rampell, former Twitter VP Elad Gil, Milo CEO Jack Abraham, former Tumblr president John Maloney, and former Etsy CEO Maria Thomas, among others. Roger Ehrenberg, founder and managing partner of IA Ventures, will join the Twice board of directors. This latest round brings Twice's total funding to $4.6MM.
"These are some of the best investors in the world, and also people we've wanted to work with for years," said Noah Ready-Campbell, Twice co-founder and CEO. "Secondhand clothing is a multibillion-dollar market, and we feel extremely fortunate to be able to work with IA's Roger Ehrenberg and the rest of our syndicate to tackle this opportunity."
Twice provides an end-to-end, concierge-style service, where customers send in their clothing, and Twice photographs and lists the items for sale. By assuming responsibility for all merchandising, Twice provides the same stylish and convenient shopping experience that customers expect from their favorite retail sites, along with complete confidence in the merchandise and affordable prices.
"Since we launched in March, customers have fallen in love with our convenience and value," said Calvin Young, Twice co-founder and CTO. "Our new funding will help us broaden our selection, and build out a number of highly requested features that will make our service even simpler and more fun for our customers."
Twice is actively recruiting engineers and designers for its San Francisco location.
Twice is the first concierge-style marketplace for secondhand fashion. Sellers send in their clothing, Twice buys it upfront, and then professionally photographs the garments and lists them for sale. By leveraging this unique model, Twice offers a like-new shopping experience to buyers, with trustworthy garment descriptions, same-day shipping, free returns, and 24-hour customer service. Founded in 2011, the company is based in San Francisco and backed by IA Ventures, Felicis Ventures, Lerer Ventures, SV Angel, CrunchFund, High Line Venture Partners and other top investors. For more information, please visit: www.liketwice.com.
About IA Ventures
IA Ventures is an early-stage venture capital firm, based in NYC that invests in companies creating competitive advantage through data. Its investments focus on using the latest technology to manage and extract value from today's massive, occasionally unstructured, often real-time data sets. For more information, please visit: www.iaventures.com.