Thread.com, which launched in 2012 as a male-focused personal style service, reveals that they have obtained $8 million in a Series A with participation from lead investor Balderton Capital and a handful of private backers, including Deepmind co-founders Demis Hassabis and Mustafa Suleyman, former Saks Fifth Avenue president Andrew Jennings, former M&S board member Maurice Helfgott, and Lane Crawford Chief Retail Officer Sebastian Picardo. Thread did not reveal specific plans for the funding, stating only that they intend to use it to expand the startup’s userbase, which currently stands at more than 200,000 (with more than 100,000 of those users from the United Kingdom).
Thread makes use of 8 in-house stylists, who take information submitted by users in the form of a questionnaire and photos and then use algorithms to generate personalized recommendations. Their algorithm takes into account 50 different elements of style, ranging from eye color, to body shape, to brand, to fit, and fabric. From there, the system analyzes millions of options from thousands of brands and offers recommendations to customers. There is an interactive component to the service, as well, as customers can pose questions to the stylists or ask for assistance in finding specific items.