Quince Raises $500M In Series E Funding Round At $10.1B Valuation With ICONIQ Leading

Quince, a consumer technology platform based in San Francisco, secured $500 million in a Series E funding round led by ICONIQ. Other participants in the round included Basis Set Ventures, Wellington Management, Wndrco, Marcy Venture Partners, Baillie Gifford, Notable Capital, and DST Global. The company intends to utilize the raised funds to expand its AI-driven Manufacturer-to-Consumer (M2C) operating system worldwide, enhancing production and supply to better align with customer demand.

Summary of transaction details:

• Deal Type: Series E
• Transaction Amount: $500,000,000
• Valuation: $10,100,000,000
• Headquarters: San Francisco, California
• Founders: Sid Gupta, Sourabh Mahajan, Becky Mortimer, Zunu Mittal
• Investors: ICONIQ, Basis Set Ventures, Wellington Management, Wndrco, Marcy Venture Partners, Baillie Gifford, Notable Capital, DST Global

Quince was founded by Sid Gupta, Sourabh Mahajan, Becky Mortimer, and Zunu Mittal. The company aims to capitalize on technological advancements in the AI space to improve its operational efficiencies. The engagement of prominent investors indicates a strong confidence in Quince's business model and growth potential.