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In a sea of massive valuations for early-stage AI startups, today we have a bit of rare news: a jumbo round and valuation step-up for an e-commerce company. Quince announced<\/a> on Wednesday that it raised a $500 million Series E round at a $10.1 billion valuation.<\/p>\n The round was led by previous investor Iconiq, which also led Quince\u2019s $200 million Series D in early 2025 at a reported $4.5 billion valuation.<\/a> That\u2019s more than double the valuation in less than a year.<\/p>\n Quince rose to fame on Instagram with its $50 cashmere sweater<\/a>, but has since amassed a wider range of product offerings, including apparel, home, accessories, beauty, and wellness. Unlike typical e-commerce retail sites, the company manufactures its products and sells them to consumers directly.<\/p>\n Quince, which launched out of beta in 2020<\/a>, calls its business model \u201cmanufacturer-to-consumer.\u201d And because it owns most of its own tech stack and controls its designs and manufacturing, Quince can more accurately predict its sales, according to a blog post<\/a> by Iconiq. This allows smaller batch manufacturing with less waste.<\/p>\n Quince and its investors argue that, unlike fast fashion, Quince can produce higher-quality products at low costs.<\/p>\n Not that the company has been without controversy. It has faced several lawsuits from brands alleging Quince is selling dupes of their designs. Coach parent Tapestry is suing<\/a>, as is Williams Sonoma, Puck reported<\/a>. Deckers also sued over footwear designs, but a court ruled in Quince\u2019s favor<\/a>.<\/p>\n If such scuffles have given Quince a copycat reputation, as Puck describes, the site\u2019s customers are apparently unphased. The company says that its top-line revenue has now surpassed $1 billion. In January, it also expanded to Canada<\/a>.<\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tSan Francisco, CA<\/span> Other participating investors include Basis Set Ventures, Wellington Management, WndrCo, MarcyPen Capital Partners,\u00a0Ballie Gifford, Notable Capital, and DST Global.<\/p>\n<\/div>\n
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\n\t\t\t\t\t\t\t\t\t\t\t\t\tOctober 13-15, 2026<\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n