ThirdLove is a San Francisco-based women’s lifestyle brand offering elevated essentials including bras, underwear, activewear and more, designed by women for women. The company is co-founded by Heidi Zak and Ra’el Cohen. ThirdLove markets its Fitting Room technology; to date over 20 million people have found their fit using it. It is backed by consumer-brand focused firm L. Catterton and several prominent women angel investors, including Katie Couric and Susan and Anne Wojcicki. The company received a $12M revolving credit facility from Second Avenue Capital Partners. ThirdLove intends to use the funds to accelerate growth and further enhance its customer experience. ThirdLove sells bras, underwear and other lingerie direct to consumers, using a Fit Finder questionnaire and data-driven design to offer individualized fits across an expanded size set. The company leverages big-data analytics and computer-vision-informed sizing to inform product design and to target customers via digital advertising. ThirdLove executes designs through precise manufacturing techniques to achieve individualized products at scale. Co-founded and led by Heidi Zak and David Spector (both ex-Google execs), the company plans to add sizes beyond the 78 currently offered and expand into retail, international markets, and categories such as swim and athletic wear. It is already generating over $100 million in annual revenue, and about 12 million women have used its Fit Finder tool to date. The company was founded in 2013 and has built brand momentum through both product and publicity. ThirdLove builds smartphone-based fitting technology and sells its own-brand bras online. Using a series of selfies processed on-device, its app converts two-dimensional images into three-dimensional shapes to match customers to products. The company uses the aggregated size data to work with bra manufacturers on inventory and to pioneer half-cup measurements, expanding its size range by about 30%. Revenues grew 400% between 2014 and 2015, and product return rates average about 8%. The founders, Heidi Zak (CEO) and David Spector, say they have rebuffed acquisition offers and are not pursuing a B2B licensing model at this time. Longer term, ThirdLove plans to apply the same fitting technology to adjacent categories such as swimwear. ThirdLove combines a retail business that designs, sources, and manufactures bras and panties in-house with a technology product that uses a mobile app and computer-vision algorithms to assess individual sizing. The app guides users through front- and side-view photos (while wearing a bra or form-fitting shirt) to calculate measurements and recommend sizes. Users are then taken to ThirdLove’s store to choose from three bra styles, customize features like straps and color, and purchase matching panties. The founders say the company offers roughly double the number of sizes of the average brand and uses sizing data to inform product construction and personalization. ThirdLove positions itself as a next-generation direct-to-consumer apparel platform aimed at reducing returns due to poor fit. It is the first brand from parent company MeCommerce, which plans to launch additional brands in the future.

Total raised

$81M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Aug 2023