Quince raises $500 million at a valuation of $10.1 billion

Quince said on Wednesday that it has raised $500 million in a Series E funding round at a post-money valuation of $10.1 billion, highlighting strong investor interest in technology-driven retail platforms that benefit from resilient spending by affluent consumers.

The funding round was led by ICONIQ Capital, with participation from investors including Basis Set Ventures and Wellington Management, among others.

The San Francisco-based company operates an online retail platform selling a range of products such as apparel, jewellery and home goods. Quince works directly with manufacturers to produce and ship items to customers, bypassing traditional retail distribution layers like wholesalers and physical retail networks.

According to the company, its technology platform uses artificial intelligence to forecast customer demand and manage production. This allows the company to manufacture products in smaller batches, helping reduce excess inventory and lower operational costs.

Quince said its total revenue crossed $1 billion in 2025, reflecting strong growth in its direct-to-consumer retail model. The company plans to use the newly raised funds to support the global expansion of what it calls its “manufacturer-to-consumer” operating system.

The company faced legal challenges last year when Williams-Sonoma filed a lawsuit accusing Quince of selling cheaper products that closely resembled its own designs.