Bike reseller closes $40M funding round
LOUISVILLE — The Pro’s Closet, a certified reseller of used bikes, e-bikes and components, has closed a $40 million Series B funding round that was led by The Chernin Group.
Existing investors Foundry Group, Edison Partners and Ridgeline also participated in the round, according to information from the company.
The Pro’s Closet has experienced a spike in sales activity during the first quarter of 2021, with sales doubling over the same quarter of 2020. Over the past two years, The Pro’s Closet’s revenue has more than quintupled, and the company expects to double in size again in 2021, the company said in…
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