Online retailer Quince announced a $500 million Series E funding round, achieving a $10.1 billion valuation. The significant investment underscores robust investor confidence in tech-enabled retail platforms catering to affluent consumers.
The funding round was led by ICONIQ Capital, with notable participation from Basis Set Ventures and Wellington Management.
Quince operates a San Francisco-based online platform offering apparel, jewelry, and home goods. The company bypasses traditional retail markups by working directly with manufacturers and shipping items to customers, leveraging its AI-powered demand forecasting to optimize production and minimize inventory.
Quince reported exceeding $1 billion in total revenue in 2025. The newly acquired capital will support the global expansion of its "manufacturer-to-consumer" operating system.
The company previously faced a lawsuit from Williams-Sonoma concerning product similarity.