Threads, a London, UK-based luxury retail company, raised $20m in series A funding.
Backers included C Ventures and Highland Europe.
The company intends to use the funds to continue its growth as it hires at least 50 more people this year and prepares to open offices in Hong Kong and New York.
Led by Sophie Hill, founder and CEO, Threads provides a chat commerce business for millennials to find the right luxury outfit and accessories through social media and messaging. The company uses WhatsApp, Instagram, Snapchat and WeChat to allow customers to find the best luxury items (clothes, jewellery and accessories) for every occasion, wherever they are in the world.
The Threads service can find, source and deliver to anywhere in the world by connecting customers, who are engaged by its original editorial content, directly to a personal shopping team. It does not hold inventory but has direct agreements with luxury brands and suppliers around the world so that it can obtain the required products quickly. Its customers are global citizens who travel frequently and its biggest markets are in Asia, the Middle East and the US.
Founded in 2010, Threads currently has 90 employees and customers in 100 countries.