Thrasio, the Boston-based Amazon seller aggregator, has just raised an incredible number of $1 billion private series D led by investor Silver Lake a large injection of cash that will be used to continue buying companies and expanding internationally.
Thrasio raises $1 billion in its latest round
Silver Lake joined other existing Thrasio investors including Advent International, Upper90, Oaktree Capital Management and Peak6. After the round, Thrasio was valued between 5 billion dollars (just over 430,000 million euros) and 10 billion dollars (approximately 8,617 million euros), nevertheless . We can get an idea since in April 2021 the company raised 100 million dollars (around 86 million euros) achieving a valuation of 3,700 million dollars (just over 3,100 million euros), in addition to having a rapid growth in recent months.
And it is that since April the number of brands under its protection has doubled. In September the company announced its largest set of transactions to date, for a total of 100 million dollars (86 million euros), with which it bought manufacturers of mattress protectors, camping equipment and bedding for the home. It currently has more than 200 brands in its possession, so it is very likely that its valuation figure has gone through the roof after this injection of capital.
CEO of Silver Lake assured that a large part of the capital of the round will be destined to the development of brands. “Ultimately, everyone benefits. Thrasio is the best-in-class platform because it gives sellers more choice and gives consumers more high-quality products and better experiences.”
An Amazon seller aggregator with an international presence
Thrasio is an Amazon seller aggregator similar to , founded in 2018. The startup takes it upon itself to find the “best-selling and best-selling” products on Amazon and buys the brands from small business owners. According to their data, many of these companies have grown much faster than expected because, after their acquisition, Thrasio made a commercial and operational improvement thanks to its specialized environment in Amazon.
In June, it was revealed that the company was in merger talks with Michael Klein’s Churchill Capital Corp., a buyout firm or SPAC, for a deal that would have taken it public. At that time Carlos Cashman, Co-founder and CEO of Thrasio assured that “going public is a capital raising episode, and hUntil now the private market has continued to provide us with a large amount of capital”. The SPAC merger, which would have valued the combined company at more than 1.7 billion euros, fell apart amid the departure of top executives. Thrasio currently operates in Amazon United States, as well as in Japan, Germany, and China, and its plans are to expand its functions to India, in addition to exploring other online retail platforms.
Its goal: to continue building its business model in new markets and platforms
According to various estimates, there are currently between 5 and 10 million third-party merchants who sell only on Amazon, taking advantage of the huge consumer audience of the online retail giant and its Fulfillment platform that manages deliveries and logistics, however Thrasio will continue with its larger scale model around this basic modelAt the same time, it will look for more opportunities to build better relationships with customers, which will ultimately lead to better sales outside the Amazon ecosystem, using other sales channels and in some cases, direct to the consumer.
“Our business is getting better as it grows, and these investments will be invaluable as we continue down this path,” he said, in a statement. For his part, , co-executive director of SilverLake stated that «Thrasio created the Amazon seller aggregator category, and its innovative approach and impressive growth have brought a lot of attention to this space. We believe that Carlos Cashman and his team are well positioned to accelerate their growth and build the preeminent next-generation technology-driven consumer goods company. We are excited to partner with Carlos, his team and existing shareholders as the company enters the next phase of growth.”
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