Walpole-based Thrasio, an acquirer of Amazon third-party private label businesses, announced Friday it has secured over $100 million in new capital, which includes $75 million in Series B Preferred equity and $35 million in additional debt capacity, bringing the company’s total funding raised to over a quarter billion dollars.
Thrasio was founded by Carlos Cashman and Joshua Silberstein in 2018 to provide businesses with a more efficient close process. The company purchases brands that mostly sell essential everyday products for upwards of $1 million, and then onboards, optimizes and operates them. Thrasio aims to expand brands’ reach and stimulate their growth through marketing, search, product development and supply chain management.
“For these types of businesses, getting an exit is not always as easy as it should be when you have something that works,” Silberstein said in an interview with Crunchbase News. “There’s not a lot of institutional buyers out there for companies with less than $5 million in profit. That’s where we come in. We make them millionaires and they can move on to something else if they want.”
Thrasio currently employs over 200 people and is hiring for a range of roles across its office locations in Massachusetts, Texas and New York, according to the company’s website.
According to Crunchbase News, the company has seen its gross revenue climb past $200 million over the past 18 months, while its current valuation has increased 32 times compared to its 2019 seed round valuation.
Since its inception, Thrasio has acquired over 40 Amazon businesses including fitness equipment creator Beast Gear and pet odor eliminator brand Angry Orange.