Thrasio Revenue, Valuation, Funding & Investors
Thrasio is valued at - as of February 2024.
Last Thrasio valuation
-
Secondary · Feb 2024
Last Thrasio funding round
$1B
Series D · Oct 2021
Thrasio revenue
$500M
Series C · Apr 2021
Key investors in Thrasio
RiverPark Ventures
Peak 6
Advent International
Upper90
Jason Finger
Harlan Capital Partners
About Thrasio
Thrasio is a Boston-headquartered consumer goods aggregator that acquires over 200 Amazon-selling brands to scale them globally. It leverages data analytics, supply chain logistics, and marketing to expand product assortments, achieving top-three status among Amazon U.S. sellers with thousands of SKUs across home, beauty, and wellness categories worldwide.
Founded
2018
HQ
Claremont, NHWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Investment management
Revenue
$500M (Apr 2021)
Valuation
- (Feb 2024)
Thrasio Valuation
Thrasio is currently valued at -, based on its secondary sale in February 2024.
Thrasio valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Feb 2024 | Secondary | - | - |
| Oct 2021 | Series D | $10B | - |
| Apr 2021 | Series C | $3B | 6.0x |
| Feb 2021 | Series C | $7B | - |
| Jul 2020 | Series C | $1.3B | - |
| Apr 2020 | Series B | $700M | 3.5x |
Thrasio Revenue
Thrasio's latest recorded revenue is $500M, as of its Series C in April 2021. At a $3B valuation, that implies a 6.0x revenue multiple.
Revenue grew from $200M in April 2020 to $500M in April 2021, while the revenue multiple moved from 3.5x to 6.0x.
Thrasio revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Apr 2021 | $500M | $3B | 6.0x | Series C |
| Apr 2020 | $200M | $700M | 3.5x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Thrasio Funding History
Thrasio has raised a total of $2.2B across 7 funding rounds, plus 1 secondary share sale.
Thrasio's first fundraising round was a $7M seed round in April 2019. The most recent completed round was a $1B Series D in October 2021.
Thrasio funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2024 | Secondary | - | - | - | Thrasio filed for Chapter 11 bankruptcy in February 2024 to restructure its debt. Once a $10 billion Amazon "unicorn", the aggregator struggled with post-pandemic consumer spending drops, bloated inventory, and heavy debt. It successfully restructured, shedding $495 million in debt and securing $90 million in new capital to refocus on core brands. |
| Oct 2021 | Series D | Advent International (lead); Silver Lake (lead); Upper90; Oaktree Capital Management; Veligera Capital; Corner Capital Management; Peak 6; Red Lions Capital | $1B | $10B | Thrasio, an Amazon third-party seller aggregator, raised over $1 billion in an all-equity Series D round on October 25, 2021, led by Advent International and Silver Lake, with participation from Oaktree Capital Management, PEAK6, Upper90, Corner Capital Management, and others. The funding aimed to accelerate brand acquisitions (at a rate of 1.5 per week, reaching 200 brands), strengthen logistics, and expand internationally into markets like the U.K., Germany, China, and Japan. Total funding raised reached approximately $3.4 billion across multiple rounds. This came amid rapid scaling, with prior rounds including $750 million Series C equity in February 2021 pushing valuation over $6 billion. Thrasio operated in the fast-growing, fragmented e-commerce aggregator space, evaluating 6,000 potential acquisitions and ranking among top Amazon sellers, but later faced challenges leading to restructuring. |
| Apr 2021 | Series C | RiverPark Ventures; Vershina Capital; Jason Finger; Jaws Ventures; Oaktree Capital Management; Advent International; Western Technology Investment; Peak 6; Harlan Capital Partners | $100M | $3B | Thrasio is a U.S.-based e-commerce aggregator founded in 2018 that acquires and consolidates Amazon seller businesses, particularly those using Amazon's Fulfillment by Amazon (FBA) service. By April 2021, the company had acquired over 100 brands representing approximately 15,000 products on Amazon's marketplace. The company raised $100 million in April 2021 as an extension to its Series C round, following a previous $750 million Series C close in February 2021. Previous investors in the Series C included Advent International, Oaktree Capital Management, Harlan Capital Partners, Peak6, Western Technology Investment, and Upper90, with the April tranche coming from existing investors seeking additional allocation. As of the April 2021 round, Thrasio's valuation was reported to be approximately 50% higher than one month prior, with estimates placing it between $3 billion and $4 billion, significantly up from its $700 million valuation in mid-2020. Thrasio demonstrated exceptional profitability and growth, reporting $100 million in profit on $500 million in revenues in its fiscal year 2020, and doubling revenue approximately every 73 days during its first two years of operation. The company was rapidly expanding internationally, having entered the UK, Germany, and Japan markets, and was acquiring businesses at a rate of approximately 1.5 per week. By October 2021, Thrasio closed a $1 billion Series D round that brought its valuation to $10 billion, cementing its position as a leading player in the Amazon aggregator space. |
| Feb 2021 | Series C | Advent International (lead); Oaktree Capital Management (lead); RiverPark Ventures; Jaws Ventures; Harlan Capital Partners | $750M | $7B | Thrasio, an aggregator acquiring Amazon third-party sellers using Fulfillment by Amazon (FBA), raised $750 million in an all-equity round in February 2021 led by existing investors Oaktree Capital Management and Advent International, with participation from others including Jaws Ventures, Harlan Capital Partners, and RiverPark Ventures. This brought Q1 2021 equity to $850 million and followed a $500 million debt round. Sources report post-money valuations of $7 billion (The Times), between $3-4 billion or higher (TechCrunch), with a prior debt valuation at $3 billion. The funding supported Thrasio's aggressive acquisition pace of two to three Amazon brands weekly, building on prior rounds including a $260 million Series C that first achieved unicorn status. Thrasio had raised over $3.4 billion total by late 2021 across multiple rounds. The Amazon aggregator sector saw massive investor interest in 2021, with Thrasio as the leader amid a market estimated over $10 billion, fueling roll-ups to scale merchants via data and analytics. |
| Jul 2020 | Series C | Advent International (lead) | $260M | $1.3B | Thrasio, founded in mid-2018, is the largest acquirer of Amazon third-party private-label businesses and one of the top 25 sellers on the platform. The company aggregates and scales these brands through acquisitions, having bought nearly 60 Amazon businesses by July 2020, including 17 in the prior quarter. It operates with over 300 full-time employees and consultants across 11 cities and three continents, actively hiring more than 90 people since April amid the COVID-19 pandemic. On July 15, 2020, Thrasio closed a $260 million Series C funding round led by Advent International, its first growth equity investment from the firm's $2 billion technology fund. This round was raised at a $1 billion pre-money valuation, achieving unicorn status and marking Thrasio as the fastest U.S. company to reach profitable unicorn status since inception. The funding brought total capital raised to over $520 million, following prior rounds including a $110 million financing in April 2020. Advent International, managing over $49 billion with extensive experience in retail, consumer, and technology sectors, highlighted Thrasio's leadership in the $200 billion fragmented e-commerce market. The investment supports accelerated growth via larger M&A deals, new product launches, channel expansions, and strategic partnerships. Thrasio has maintained profitability since founding while doubling revenue every 73 days as of earlier reports, paying sellers over $100 million post-acquisition. |
| Apr 2020 | Series B | RiverPark Ventures; Jason Finger; Upper90; Basement Fund; Western Technology Investment; Peak 6; Harlan Capital Partners | $75M | $700M | Thrasio, founded in 2018, is the largest acquirer of Amazon third-party private label businesses, purchasing category-leading brands typically for $1+ million each and optimizing them through marketing, search, product development, and supply chain management for substantial growth. By April 2020, it had secured over $100 million in fresh capital, including a $75 million Series B preferred equity round from investors such as Basement Fund, Harlan Capital Partners, Jason Finger, Peak 6, RiverPark Ventures, Upper90, and Western Technology Investment, plus $35 million in additional debt capacity, bringing total capital raised to over a quarter billion dollars. The Series B valued the company at over $700 million, a 32x increase from its March 2019 seed financing. In the 18 months prior to the round, Thrasio's gross revenue grew from zero to over $200 million on a pro forma trailing twelve months (TTM) basis, achieved by acquiring and integrating over 40 businesses onto its proprietary operating platform. The company has been profitable since inception, reaching over $35 million in pro forma TTM EBITDA. Its team expanded 10x, including 20 new hires in the three weeks leading up to the announcement. This funding came amid rapid growth fueled by the COVID-19 pandemic's e-commerce boom, with Thrasio doubling revenue approximately every 73 days in its early years. The Series B pre-money valuation surpassed $700 million, positioning Thrasio for further acquisitions and scaling. Subsequent rounds included a July 2020 Series C raising $260 million at a $1 billion pre-money valuation, achieving unicorn status with over $300 million in pro forma revenue and top 25 seller status on Amazon. |
| Dec 2019 | Series A | Peak 6 (lead); Upper90 (lead); RiverPark Ventures; Jason Finger; Harlan Capital Partners | $20M | - | Thrasio is an aggregator of Amazon third-party private-label businesses, founded in 2018, that acquires, optimizes, and scales small brands sold on Amazon through roll-up acquisitions paid in cash. In April 2019, it raised a $6.5 million seed round with investors including Jason Finger and RiverPark Ventures. The target $20 million Series A, matching the specified investors Peak 6, Upper90 as leads, Harlan Capital Partners, Jason Finger, and RiverPark Ventures, occurred around November-December 2019, reflecting rapid growth via 43 total acquisitions by late 2019 and strong unit economics. Post-Series A, Thrasio closed a $110 million financing in early 2020 (likely October-December 2019 timeframe per reports) with $75 million equity and $35 million debt from the same investors including Peak6, Upper90, RiverPark Ventures, and WTI, achieving a post-money valuation of $780 million—32x the seed valuation. At that stage, gross revenue exceeded $200 million (from zero 18 months prior), with over $35 million TTM EBITDA, positioning it as a profitable fast-scaling player among top Amazon sellers. Thrasio continued aggressive expansion, crossing $300 million pro forma revenue by April 2020 with 40+ brands and top 25 Amazon seller status, followed by a $260 million Series C in July 2020 at over $1 billion valuation led by Advent International, cementing unicorn status as the fastest profitable U.S. startup to do so. Later rounds reached $3.4 billion total funding, but early traction stemmed from formulaic acquisitions and operational streamlining. |
| Apr 2019 | Seed | RiverPark Ventures; Jason Finger; Upper90; Peak 6 | $7M | - | Thrasio raised a $6.5 million seed round on April 25, 2019, with investors including Jason Finger, Peak 6, RiverPark Ventures, and Upper90. This was the company's first funding round, bringing total funding to date later referenced in subsequent announcements. Thrasio acquires Amazon third-party private-label businesses. |
Who has invested in Thrasio?
15 investors have backed Thrasio across its funding rounds, including RiverPark Ventures, Peak 6, Advent International, Upper90, Jason Finger and Harlan Capital Partners.
Lead investors include Advent International, Silver Lake, Oaktree Capital Management, Peak 6 and Upper90.
Thrasio Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 5 | Participant | Apr 2019 | |
| Chicago, IL | 5 | Lead | Apr 2019 | |
| New York City, NY | 4 | Participant | Apr 2019 | |
| New York City, NY | 4 | Lead | Apr 2019 | |
| Boston, MA | 4 | Lead | Jul 2020 | |
| West Palm Beach, FL | 4 | Participant | Dec 2019 | |
| United States | 3 | Lead | Feb 2021 | |
| Miami, FL | 2 | Participant | Feb 2021 | |
| San Francisco, CA | 2 | Participant | Apr 2020 | |
| San Francisco, CA | 1 | Lead | Oct 2021 | |
 Nicosia | 1 | Participant | Apr 2021 | |
| New York City, NY | 1 | Participant | Oct 2021 | |
| New York City, NY | 1 | Participant | Apr 2020 | |
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Start Free TrialAcquisitions by Thrasio
Thrasio has acquired 5 companies to date.
Last acquisition by Thrasio was on October 4th 2021. Thrasio acquired Lifelong Online for undisclosed valuation.
Latest Acquisitions by Thrasio
| Description | Lifelong Online is the e-commerce arm of Lifelong Group, drawing on over 25 years of manufacturing expertise in plastics and automotive components. The Delhi-based division partners with international brands in electrical, medical, and systems sectors, offering online procurement of die-cast parts, assemblies, and luxury services in travel and events. | Wise Owl Outfitters is a family-owned retailer of outdoor gear including hammocks, tents, and camping accessories. The North Carolina-based company sells durable products through e-commerce, targeting campers and backpackers with items tested in backcountry conditions. | SafeRest is a US-based producer of waterproof mattress protectors using five-layer technology with polyurethane membranes. The company offers quilted toppers for twin through California king sizes, certified hypoallergenic and machine-washable. Distributed through Amazon and Walmart, SafeRest products feature 10-year warranties and block fluids, allergens, and bedbugs, serving hospitality chains and healthcare facilities nationwide. | Yardline is a financial services platform for e-commerce sellers headquartered in New York, New York. It provides Capital-as-a-Service with loans up to $1 million funded in one business day for Amazon, eBay, Etsy, and Shopify merchants. Using data analytics, Yardline assesses seller performance for non-dilutive funding. The company also offers embedded financing tools for marketplaces, enabling growth capital based on sales velocity and inventory metrics. | |
| HQ Country |  | | | | |
| HQ City | Haryana | Claremont, NH | Claremont, NH | New York City, NY | |
| Deal Date | 4 Oct 2021 | 8 Sep 2021 | 8 Sep 2021 | 17 Jun 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Investments by Thrasio
Thrasio has invested in 2 companies to date.
Latest investment by Thrasio was on May 18th 2021. Thrasio invested in Dwarfs in their $9M Series A round.
Latest Investments by Thrasio
| Description | Dwarfs is a Berlin-headquartered e-commerce accelerator that acquires, scales, and operates brands on platforms like Amazon and Shopify. The company invests in consumer goods categories such as home and kitchen products, beauty, and electronics, managing over 100 brands with a focus on supply chain optimization and advertising. Founded in 2020, Dwarfs employs data analytics to boost sales velocity and expand into new marketplaces including Europe and the United States. It partners with sellers to handle inventory, logistics through fulfillment centers in Germany and Poland, and product development for private-label growth. | Yardline is a financial services platform for e-commerce sellers headquartered in New York, New York. It provides Capital-as-a-Service with loans up to $1 million funded in one business day for Amazon, eBay, Etsy, and Shopify merchants. Using data analytics, Yardline assesses seller performance for non-dilutive funding. The company also offers embedded financing tools for marketplaces, enabling growth capital based on sales velocity and inventory metrics. |
| HQ Country |  | |
| HQ City | Amsterdam | New York City, NY |
| Deal Date | 18 May 2021 | 11 Nov 2020 |
| Round | Series A | Series A |
| Raised | $9M | $10M |
| Investors | Michiel van der Meer; FJ Labs; Bas Urlings; Solid Ventures; Harlan Capital Partners; Demian Beenakker | Crossbeam Venture Partners; 10X Capital |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
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Thrasio Competitors
Thrasio competitors include listed companies like Senshukai, Acetech E-Commerce, CMON and Xcel Brands, and private ones like Asooz and BONPARA.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Japan | Publicly listed | $270M | $30M | $30M | - | |
| India | Publicly listed | $9M | $2M | $19M | - | |
 Singapore | Publicly listed | $10M | ($17M) | $13M | - | |
| United States | Publicly listed | $5M | ($11M) | $6M | 3.3x | |
 Barisal | Private | - | - | $1M | - | |
 Istanbul | Private | - | - | $1M | - |
Thrasio Public Comps
Thrasio is still privately-owned, but its public comps include Nihar Info Global, Present24, iPower, Naples Soap, American Rebel Holdings, Digital Brands Group, Webuy Global and Spartoo.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2M | $98K | 0.4x | - | 8.9x | - | |||
| $129K | $26K | 12.1x | - | 59.1x | - | |||
| $66M | ($3M) | 0.1x | - | (2.7x) | - | |||
| $12M | ($127K) | 1.0x | - | (93.1x) | - | |||
| $10M | ($32M) | 2.1x | - | (0.6x) | - | |||
| $7M | ($26M) | 3.3x | - | (0.9x) | - | |||
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Common questions about Thrasio
| When was Thrasio founded? | Thrasio was founded in 2018. |
| Where is Thrasio headquartered? | Thrasio is headquartered in Claremont, NH, United States. |
| Is Thrasio publicly listed? | No, Thrasio is a private, VC-backed company. |
| What is Thrasio's valuation? | Thrasio was last valued at - in its secondary sale in February 2024. |
| How much funding has Thrasio raised? | Thrasio has raised $2.2B across 7 funding rounds. |
| What was Thrasio's last funding round? | Thrasio's last funding round was a $1B Series D in October 2021, led by Advent International and Silver Lake. |
| Who are Thrasio's investors? | Thrasio's investors include RiverPark Ventures, Peak 6, Jason Finger, Upper90, Advent International, Harlan Capital Partners, Oaktree Capital Management, Jaws Ventures, Western Technology Investment, Silver Lake and 5 others. |
| What is Thrasio's revenue? | Thrasio's latest recorded revenue is $500M (April 2021). |
| What is Thrasio's revenue multiple? | Thrasio's latest valuation implies a 6.0x revenue multiple ($3B valuation on $500M of revenue). |
| Which companies are comparable to Thrasio? | Companies comparable to Thrasio include Senshukai, Acetech E-Commerce, CMON, Xcel Brands, Asooz and BONPARA. |
| How many companies has Thrasio acquired? | Thrasio has acquired 5 companies, including Lifelong Online, Wise Owl Outfitters, SafeRest, Yardline and Bonstato. |
| How many companies has Thrasio invested in? | Thrasio has invested in 2 companies, including Dwarfs and Yardline. |
| What was Thrasio's last investment? | In May 2021, Thrasio invested in Dwarfs' $9M Series A alongside Michiel van der Meer, FJ Labs, Bas Urlings and 3 other investors. |
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