Thrasio Hits Unicorn Status With Series C Funding
New York – July 22, 2020 – Cooley advised Thrasio, the largest acquirer of Amazon businesses and one of the top 25 sellers on Amazon, on its $260 million Series C financing led by Advent International. The round was raised at a $1 billion pre-money valuation, making Thrasio the fastest US company to reach profitable unicorn status. Cooley partner Adam Dinow led the team advising Thrasio.
Thrasio acquires category-leading Amazon third-party private label businesses and then seamlessly onboards, optimizes and operates those brands. The company drives organic growth through best-in-class marketing, product development, operations and supply chain management.
“People ask how we've been able to grow so quickly,” Thrasio co-CEO and co-founder Carlos Cashman said in a news release. “It’s pretty simple: We build relationships with sellers and others in the Fulfilled by Amazon ecosystem. We’re a resource to sellers to help them grow, and we’re here to acquire their business and give them a well-deserved pay out when the time is right. We pay well in any economic climate and share the financial gains from growing their brands post-acquisition. So far, we’ve paid sellers more than $100 million.”
Thrasio has been profitable since it was founded in July 2018, even while growing at a nearly unprecedented pace. To date, the company has acquired nearly 60 Amazon businesses, including 17 last quarter. Thrasio now has more than 300 full-time equivalent employees and consultants across 11 cities and three continents, and it has been actively hiring during the COVID-19 pandemic, adding more than 90 new team members since April.
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