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Threadflip raises $1.6M for online women’s clothing consignment

Online consignment store Threadflip launched Tuesday with $1.6 million in the bank. Much like a traditional consignment store, the website lets you buy and sell gently used women’s clothing.

First Round Capital and Baseline Ventures led the seed round, with participation from Dave Morin from Slow Ventures, Forerunner Ventures, Greylock Discovery Fund, and Andreessen Horowitz Seed Fund. The full press release follows.

THREADFLIP LAUNCHES, TURNING EVERY CLOSET INTO A UNIQUE BOUTIQUE 

Social Shopping Site Provides Stunningly Simple Way to Discover, Buy and Sell Fashion

SAN FRANCISCO, CA – April 17, 2012 – Threadflip launches today, providing a new way to discover, buy and sell fashion.  Inspired by the reality that there comes a time when even your most beloved fashion favorite is better served spicing up someone else’s closet, Threadflip enables you to easily recoup some of your investment and make room for new finds. In turn, Threadflip shoppers enjoy access to fashionable closets featuring designer apparel (from Paul Smith to Prada, to vintage to Vuitton and everything in between) at a fraction of the original price.

In conjunction with the launch, the company announces a $1.6M seed round led by First Round Capital and Baseline Ventures. Additional participants in the round include Dave Morin from Slow Ventures, Forerunner Ventures, Greylock Discovery Fund and Andreessen Horowitz Seed Fund. Kent Goldman from First Round Capital joins the company’s board of directors.

With a few clicks, users can upload images of pieces straight from their closets and sell clothing, shoes, bags and jewelry, creating a vast marketplace of thousands of new pieces every day. And if you are too busy to upload and sell on your own, the company is also launching its White Glove Service with a select group of users. This service will offer an end-to-end solution, allowing women to send in their clothing and Threadflip takes care of the rest.

Threadflip Tastemaker Spotlights – Straight From the Closets of Style Icons

Threadflip Tastemaker spotlights provide exclusive access to one-of-a-kind items from the personal collections of tastemakers.  For launch, Threadflip showcases the incomparable style of four fashion arbiters – Vogue’s Preetma Singh, Late Afternoon blogger Liz Cherkasova, Tennessee Thomas drummer for The Like and Laura Ellner of On the Racks. These Threadflip Tastemakers offer up pieces straight from their own closets and highlight top picks from the site. Threadflip Tastemaker spotlights will be an ongoing feature on the site.

“As a fashion industry insider, personal closets are the final frontier for style discovery and shopping,” said Jennie Lodge, Threadflip brand manager. “Just getting up-close and personal with a favorite style star’s pieces is a thrill and knowing that they’re yours for the taking, (or at least buying), is a dream.”

“Threadflip provides a smart and streamlined way for consumers to discover, sell and purchase online,” said Manik Singh, CEO, Threadflip. “Too many closets are packed with barely or never-worn items, some with tags still on.  With Threadflip’s seamless end-to-end experience, easy shipping and White Glove Service, we’ve removed all barriers to buying and selling online, making it simple to hit the refresh button on your wardrobe.”

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