Tuesday May 21, 2019

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NY Based Thrillist Raises $13M in Series A Funding

English: Thrillist's logo

English: Thrillist’s logo (Photo credit: Wikipedia)

The newsletter/e-commerce company Thrillest has recently secured $13M in Series A funding led by Fred Harman’s Oak Investment Partners, Lerer Ventures and Bob Pittman’s Pilot Group. Thrillest was founded by Ben Lerer, son of Huffington Post’s chairman and co-founder Ken Lerer, and the company started out as a “daily candy newsletter for dudes,” according to AllThingsD. Thrillest has now expanded into e-commerce after acquiring Jackthreads, a Gilt Group for dudes, and Lerer says the company is on track to make a profit of $60M in revenue this year.

In an interview at PandoMonthly, Ben Lerer talked about how despite New York’s rising tech scene, it still has a ways to go before catching up to Silicon Valley. Lerer explained that the biggest problem in NY is late stage capital and lack of billion dollar tech companies. NY investors want to wait until the risk is taken away before funding a company, but Lerer added that NY’s angel investment scene is strong.