Funding round
Quince Seed
Quince, which works in luxury apparel and home goods retail in San Francisco, raised $8.5M in a Seed round announced on 13 Oct 2020. 3 firms took part. It is Quince's first venture round on record.
$8.5M
Amount raised
Not disclosed
Post-money valuation
3
Investors
no lead named
Valuation
What this round says about the price
Quince did not disclose a valuation in this round. It is Quince's first venture round on record, 2 years after it was founded in 2018. It is under 1% of the $879M Quince has raised in the venture rounds on record. Quince raised again 13 months later: a Series A round of $50M in Nov 2021. Its next priced round, a Series D in Jul 2025, valued it at $4.50B.
Quince's funding rounds
Quince has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
3 firms took part; no lead investor was named.
Investors
- Founders Fund backs 368 venture-backed companies new investor
- 8VC new investor
- backs 53 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Seed rounds in Clothing Stores within a year either side disclosed an amount; the median was $2.3M, and this round was 3.8 times the median. The closest in time, other companies' Seed rounds in Clothing Stores:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Clothing Stores | 12 Oct 2020 | $1.0M | not disclosed | Investible |
| Clothing Stores | 1 Oct 2020 | undisclosed | not disclosed | not named |
| Clothing Stores | 4 Nov 2020 | $6.0M | not disclosed | not named |
| Clothing Stores | 25 Aug 2020 | $3.0M | not disclosed | Third Kind Venture Capital |
| Clothing Stores | 31 Mar 2021 | $3.5M | not disclosed | ICA |
| Clothing Stores | 1 Mar 2021 | $1.5M | not disclosed | TBD Angels |
| Clothing Stores | 20 May 2021 | $2.3M | not disclosed | Elevation Capital |
| Clothing Stores | 9 Jul 2021 | $3.0M | not disclosed | not named |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Quince raise in its Seed round?
Quince raised $8.5M in its Seed round, announced in Oct 2020.
Which investors took part in Quince's Seed round?
Founders Fund, 8VC and Basis Set.
What was Quince's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Clothing Stores?
9 Seed rounds in Clothing Stores within a year either side disclosed an amount; the median was $2.3M, and this round was 3.8 times the median.
Did Quince raise again after this round?
Yes: a Series A round in Nov 2021 of $50M.