ThredUP, an online exchange for children’s clothes, has raised $1.4 million led by Trinity Ventures with Founder Collective, High Line Ventures and NextView Ventures participating. This brings the startup’s total funding to $1.7 million.
ThredUP aims to bring affordability and convenience to the children’s clothing market, which is estimated to be valued as a $1 billion space. The platform allows parents to exchange boxes of outgrown kids clothing and shoes for new items that fit. Since launching a few months ago, thredUP has accumulated 12,000 members and saved families an estimated $195,000 in children’s clothing. The startup’s co-founder James Reinhart tells me that ThredUP is adding 1,000 new members per week.