# The Pro’s Closet

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/the-pro-s-closet

- Industry: Internet
- Headquarters: Louisville, US
- Website: www.theproscloset.com
- Total disclosed funding: $52M
- Latest round: Series B (May 27, 2021)
- Investors on record: 4

## About

The Pro’s Closet, Inc. is a leading retailer specializing in certified pre-owned bicycles, frames, and components, along with new cycling gear tailored for enthusiasts, enhancing the cycling experience for various riders.The Pro’s Closet, Inc. operates as a retailer of pre-owned bicycles and cycling gear. Founded in 2006, the company is headquartered in Louisville, US. Nick Martin, who previously founded other ventures, established the firm to serve the growing cycling market. The company has engaged in a total of 7 investment deals, with the most recent funding round taking place on May 27, 2021. During this Series B round, the company raised USD 40.000 mn led by TCG, with contributions from Edison Partners, Foundry Group, and Ridgeline Ventures. The total amount raised by The Pro’s Closet amounts to USD 20.085 mn, and its current valuation is USD 162.978 mn.The Pro’s Closet specializes in selling certified pre-owned bicycles, frames, components, and new cycling gear aimed at enthusiasts. Their product range includes high-performance bicycles from brands such as Specialized, Trek, and Canyon, catering to all types of cyclists. The company utilizes a consignment model, enabling customers to sell their old bikes while receiving offers within 48 hours. Their operational focus targets major urban centers in the United States, including Los Angeles, Denver, Seattle, New York, and Chicago, to meet the needs of discerning cycling customers.The Pro’s Closet generates revenue through direct sales of both pre-owned and new cycling products via its e-commerce platform. Customers can explore high-end bicycles, apparel, and accessories, with certified pre-owned bikes typically ranging from USD 1,500 to USD 14,000 depending on their condition and model. The company also offers promotions such as free shipping on certified pre-owned bikes, enhancing its appeal to customers while maintaining a direct-to-consumer model alongside consignment sales.In May 2021, The Pro’s Closet, Inc. secured USD 40.000 mn in Series B funding, aimed at expanding its teams of bike experts, operations, and technology capabilities, alongside facilitating physical expansion into new markets. With this funding, the company plans to enhance its presence in additional urban areas across the United States by establishing new retail locations and investing in its technology infrastructure to improve customer experience.

## Funding rounds

- Series B, May 27, 2021, $40M — Edison Partners, Foundry Group, TCG, Ridgeline Ventures
- Series A, Sep 9, 2020, $12M — Edison Partners, Foundry Group, Ridgeline Ventures

## Investors

- Edison Partners (https://capitalatlas.ai/funds/edison-partners) — Series A, Series B
- Foundry Group (https://capitalatlas.ai/funds/foundry-group) — Series A, Series B
- Ridgeline Ventures (https://capitalatlas.ai/funds/ridgeline-ventures) — Series A, Series B
- TCG (https://capitalatlas.ai/funds/tcg) — Series B