The direct-to-consumer intimates brand intends to use the funds from the Series B round, led by investment firm Stripes, to expand its product offerings, open brick-and-mortar pop-up shops and make new sustainability commitments, according to a press release.

To date, Parade has raised $43 million in funding and is projected to quadruple revenue growth by the end of 2021, according to the brand. Since it launched in 2019, Parade has grabbed the attention of DTC veterans, including Warby Parker co-founder Neil Blumenthal, for its punchy marketing and insistence on inclusivity, helping to redefine the DTC brand marketing playbook. But Parade’s future is not without challenges, as DTC darlings before it — including Warby Parker and AllBirds — struggle to scale as their companies mature.

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