thredUP, a Cambridge, MA-based company that operates an online kids clothing exchange, has completed a $1.7m round of funding.
The investment was led by Trinity Ventures, with participation from Founder Collective, High Line Ventures and NextView Ventures.
Earlier in 2010, thredUP raised a seed round, which helped launch the company.
This new funding will be used to expand the development team, refine the core product offering and grow its membership base. In a few months, thredUP has passed the 10,000 member mark.
The swapping platform allows parents to conveniently and affordably exchange boxes of outgrown kids clothing for new items that fit.
The company was co-founded by James Reinhart, Oliver Lubin, and Chris Homer.