Quince announced it has raised $500 million in a Series E funding round, bringing its post-money valuation to $10.1 billion. The financing was led by ICONIQ with participation from Basis Set Ventures, Wellington Management, WndrCo, Marcy Venture Partners, Baillie Gifford, Notable Capital, and DST Global.
The company said the new capital will support continued growth and global expansion of its proprietary Manufacturer-to-Consumer (M2C) operating system, a platform designed to redesign traditional retail infrastructure by connecting manufacturers directly with consumers.
Founded with the premise that premium products should not require traditional retail markups, Quince began by focusing on material-driven categories such as cashmere, where quality and craftsmanship are measurable. As customer demand expanded, the company broadened into additional product categories while building supply chain technology and artificial intelligence systems designed to support pricing efficiency and consistent product quality at scale.
Today, Quince serves millions of customers across multiple categories and has built its model on direct partnerships with manufacturers, eliminating the intermediaries typically found in traditional retail. According to the company, this approach reduces excess production, lowers inventory risk, and eliminates layered markups that often inflate consumer pricing.
The company’s platform integrates AI-driven demand forecasting, real-time production planning, and factory integrations that allow inventory and production to be managed on shorter timelines than traditional retail systems. Rather than forecasting demand months in advance, Quince said it uses weekly forecasting at the SKU and size level and introduces production through small-batch test orders before scaling.
Quince said this model helps reduce waste, shorten supply chains, and maintain consistent quality standards as it expands across categories. The company reported that the approach has also driven strong financial performance, surpassing $1 billion in annual revenue last year and achieving triple-digit year-over-year growth every fiscal year since launch.
With the latest financing, Quince joins a group of private consumer companies valued at $10 billion or more. The company said the platform’s data and operational systems are designed to improve as it scales, strengthening forecasting accuracy, production efficiency, and category expansion with each new customer interaction.
KEY QUOTES:
“For decades, consumers have been conditioned to equate higher prices with higher quality. We play in categories where quality is tangible and measurable to disprove that assumption. The model is simple: design a different system that eliminates the waste consumers have traditionally paid for in retail. That starts with real care around quality, from the materials we source all the way through how products are made, while removing excess production, unnecessary intermediaries, and inventory risk. When those inefficiencies come out of the system, people experience the benefits through more consistent quality and more accessible pricing. Over time that creates trust, and increasingly customers come to Quince first when they’re looking for something because they know what they’re going to get.”
Matt Lippert, Chief Commercial Officer at Quince
“Quince has built hyperefficient infrastructure that enables it to deliver unmatched value to consumers at scale and, in turn, has built a brand people love. By redesigning how premium products are manufactured and delivered, compressing traditional retail cycle times and reducing waste, and building a deep understanding of what customers want in real-time, the company is correcting structural inefficiencies that have long defined retail economics. We are excited to triple down in Quince following a year of strong execution by the team and believe the platform is positioned for durable, long-term growth.”
Yoonkee Sull, General Partner at ICONIQ
