The Pro’s Closet, a Boulder, CO – 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.