Thrasio Holdings Inc, which acquires third-party sellers on Inc, said on Monday it had raised $1 billion in a funding round led by private equity firm Silver Lake.

Silver Lake, which invests in technology industries, was joined by Thrasio’s largest shareholder Advent International, and existing investors Oaktree Capital Management, Upper90, PEAK6 and Corner Capital.

The latest round, along with the $650 million debt facility announced in September, takes Thrasio’s total funding to $3.4 billion, the U.S.-based startup added.

Earlier this year, Bloomberg reported Thrasio was in talks to go public via a merger with former Citigroup executive Michael Klein’s blank-check firm. The deal fell through due to issues in Thrasio’s financial audits amid changes in the company’s executive leadership, CNBC reported.

As of August, Thrasio had over 200 brands in its portfolio. The company further added camping equipment and home bedding labels in September.

Read more/Source: Reuters