The Pro’s Closet Raises $40m in Series B Funding

the pros closet

The Pro’s Closet, a Boulder, CO โ€“ based destination for Certified Pre-Owned bikes, e-bikes, and components, closed a $40m Series B funding round.

The round was led by The Chernin Group with participation from existing investors Foundry Group, Edison Partners, and Ridgeline.

The company intends to use the funds to:

  • grow operations and technology teams,
  • expand its teams of bike experts, and
  • facilitate physical expansion to new markets.

Led by CEO John Levisay, The Pro’s Closet purchases new and pre-owned bikes and accessories from manufacturers, retailers, and individuals and sells them throughout the US and Canada. The company features assurances like The Pro’s Closet’s 141-point Certified Pre-Owned process, a 30-day return policy on any bike, Guaranteed Buyback, and transparent buying and selling programs.

FinSMEs

27/05/2021