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The Pro's Closet Snags $40M Series B Round

2021-05-27
BOULDER, CO, The Pro's Closet, the world's leading destination for Certified Pre-Owned bikes, e-bikes, and components, has closed a $40 million Series B funding round.
The round was led by The Chernin Group with participation from existing investors Foundry Group, Edison Partners, and Ridgeline. This funding announcement follows 2021 Q1 sales that doubled from 2020. The Pro's Closet's performance is a clear indicator of strong and continuing demand for pre-owned bikes and bike accessories, and strongly validates the platform's low-friction recommerce model.

The Pro's Closet (TPC) is the world's largest and most trusted brand for pre-owned bikes. TPC purchases new and pre-owned bikes and accessories from manufacturers, retailers, and individuals. Each bike undergoes a rigorous Certified Pre-Owned inspection and top-to-bottom service to ensure every bike is delivered ready to ride. An innovative Buyback Guarantee gives customers full transparency by offering guaranteed trade-in values for 18 months after purchase.
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