Quince, a San Francisco, CA-based consumer technology platform, raised $500M in a Series E funding round led by ICONIQ.
The round also saw participation from Basis Set Ventures, Wellington Management, Wndrco, Marcy Venture Partners, Ballie Gifford, Notable Capital, and DST Global.
The company is at a $10.1 billion valuation.
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The company plans to use the funds to grow and expand its proprietary Manufacturer-to-Consumer (M2C) operating system worldwide.
Quince is a consumer technology platform changing how premium goods are made, priced, and delivered. What sets Quince apart isn’t just pricing—it’s the system behind the products. This advantage comes from proprietary technology, smart capital use, strong manufacturing partnerships, and a top-tier team running the platform at scale.
Quince started with a simple idea: premium quality shouldn’t come with high retail markups. The company first tested this in material-focused products like cashmere, where quality is measurable. As customers returned and demand grew Quince expanded not through trends, but through supply chain innovation and AI that ensures consistent quality, and pricing at scale. Quince serves millions of customers across many categories, with repeat purchases showing that trust comes from the system not any single product.
Quince’s growth comes from its unique end-to-end model and AI-driven technology. Instead of chasing seasonal trends, the company focused on redesigning the system. By working directly with specialist manufacturers and cutting out intermediaries, Quince challenges a retail model full of financial and environmental inefficiencies. Excess production, extra margins and inventory risks raise costs without improving quality. Quince’s Manufacturer-to-Consumer platform tackles these issues by reducing waste, shortening supply chains and maintaining high material standards as it grows across key categories.
Traditional retailers plan months, ordering products in bulk long before they reach shelves. Extra inventory is often discounted, destroyed, or written off and these costs get passed to consumers. Quince takes a different approach forecasting demand weekly by SKU and size starting with small batch test orders before scaling. Its factory connections, materials checks, and real time production planning let inventory be managed in weeks instead of quarters. By bringing makers and customers closer, Quince cuts excess inventory, shortens supply chains, and removes the financial and environmental waste built into traditional retail. The company has redefined how goods reach the market.
This operating model has driven strong growth, with Quince surpassing $1 billion in revenue last year. Since its launch, the company has grown triple digits every year.
“For years, consumers have been told that higher prices mean higher quality,” said Matt Lippert, Chief Commercial Officer at Quince. “We focus on products where quality can be measured, showing that isn’t true. Our approach is simple build a system that removes the waste in retail. We ensure quality from the materials to the finished product, while cutting excess production, middlemen and inventory risk. With those inefficiencies gone, customers get better quality at fairer prices. Over time, this builds trust—people choose Quince first because they know what to expect.”
“Quince has created highly efficient systems that deliver exceptional value to customers and built a brand people love,” said Yoonkee Sull, General Partner at ICONIQ. “By redesigning how premium products are made and delivered, cutting retail cycle times, reducing waste, and understanding customer needs in real time, the company is fixing long-standing inefficiencies in retail. After a year of strong execution, we’re excited to continue supporting Quince and believe the platform is set for long-term growth.”
About Quince
Founded in 2018, Quince is a consumer technology platform transforming retail from the ground up. Its Manufacturer-to-Consumer (M2C) system uses AI for demand forecasting, real-time production planning, and direct factory partnerships to match supply with customer demand, cutting markups, inventory risk, and inefficiencies built into traditional pricing.
Quince was founded on a simple idea: premium quality shouldn’t come with traditional retail markups. By redesigning how products are made, priced, and delivered, Quince brings transparency to retail and makes high-quality products more accessible. This approach has made Quince a trusted choice for customers who want premium materials, consistent quality and fair pricing. The result is a more efficient model that challenges traditional retail and positions Quince as one of the fastest-growing consumer platforms.
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