ThredUp Raises $81 Million Round Led By Goldman Sachs Investment Partners

ThredUp, an online secondhand clothing marketplace, announced an $81 million funding round Thursday led by Goldman Sachs Investment Partners . The company opened a 136,000 square foot facility in Pennsylvania and said it expects to open two more facilities and hire 1,000 employees. ThredUp says it expects to process more than two million pieces of clothing every month by the end of 2016. "Our industry research revealed a huge opportunity to change consumer behavior around both shopping and selling secondhand apparel," said Ian Friedman, co-head of GSIP Private Investments, in the press release. Friedman will also join ThreadUP's board of directors. Other investors in the series E round include its existing investors: Trinity Ventures, Redpoint Ventures, Highland Capital Partners and Upfront Venture. The company has raised more than $125 million across all funding rounds.

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