Thread makes it easy for men to dress well by recommending the perfect clothes for each person. They combine expert stylists with powerful AI to simplify shopping. The company is growing quickly with over 1 million users, and recently announced $22m in new funding from H&M and Balderton.
Thread was founded by serial entrepreneurs Kieran O’Neill and Ben Phillips to solve a problem they had themselves: they wanted to dress well, but didn’t enjoy shopping. They found the high street crowded and the huge number of options online overwhelming. They wanted an easier way, so they built Thread.
Thread combines expert stylists with powerful AI with the aim to recommend the perfect clothes for each person. You can receive weekly recommendations, chat with a stylist, or simply browse your personalised shop, where everything is in your size, budget & style.
Their vision is to become one of the largest retailers in the world by simplifying the process of dressing well for hundreds of millions of people globally.
Initially focusing on men, over 1 million guys in the UK have joined Thread. Gross sales have grown from £2.4m in 2015 to over £14m generated in the year ending Sept 18, resulting in £7.69m revenue (EBITDA -£6.88m). Over 500 leading fashion brands have joined the platform, including Burberry, Paul Smith, Hugo Boss, Ted Baker, Levis, River Island, and M&S.
Thread recently announced $22m in funding, led by H&M Group, Balderton Capital and Beringea. They want to give their customers a chance to share in their success so have reserved part of the round for the crowd, giving you the opportunity to invest alongside the VCs on exactly the same financial terms.