Thrasio Holdings secures $1 billion in funding led by Silver Lake
- ByStartupStory | October 26, 2021
Thrasio Holdings, the Boston-based Amazon aggregator, has announced the end of the first batch of its $1 billion Series D. The round was led by Silver Lake along with existing investor Advent International, which remains Thrasio’s largest shareholder.
Amazon’s third-party resellers also received funding from Advent International, which remains Thrasio’s largest shareholder, according to a statement.
Existing investors Upper90, funds managed by Oaktree Capital Management, PEAK6 Investments and Corner Capital also participated in Series D.
Thrasio also raised a $650 million funding round in September. This brings Thrasio’s total funding to more than $3.4 billion. The company recently announced the three largest acquisitions in its history, all of which occurred in the second quarter. 2021 sees rapid growth, with Thrasio acquiring more than 1.5 companies per week and having over 200 brands in its portfolio.
Silver Lake General Manager Stephen Evans said most of the money from the latest Thrasio fundraiser will be used to combine existing brands in the Thrasio umbrella. Thrasio will use this funding to continue acquiring promising brands nationally and internationally while expanding distribution through additional channels.
“Thrasio created Amazon’s composite portfolio, and their innovative approach and impressive growth rate have attracted a lot of attention to this space,” said Greg Mondre, Co-CEO and Stephen Evans, CEO of Silver Lake, said. “We believe Carlos Cashman and his team are well-positioned to accelerate growth and build the next generation, technology-driven consumer goods company. We are excited to partner with Carlos, his team and existing shareholders as the company enters its next phase of growth.”
The US-based startup, founded in 2018 by Joshua Silberstein and Carlos Cashman, acquires top and fast-growing Amazon sellers while providing them with technology, marketing, and sales. Digital marketing and sales skills to accelerate growth. It claims to be the biggest acquirer of Amazon FBA (Fulfillment by Amazon) brands, rivalling the biggest names in the house.
Thrasio works on Amazon in the US, Japan, and Europe. The company plans to add India to its portfolio and may sell on other online retail platforms.
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