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SOURCE The RealReal
Rapid Growth Drives Category and Infrastructure Expansion
SAN FRANCISCO, May 6, 2014 /PRNewswire/ -- The RealReal announced today that it has raised $20 million in its Series C funding round. Investors include: DBL Investors, Canaan Partners, InterWest Partners, eVentures, Greycroft, and Expansion Capital.
This round of funding will be applied towards "expansion of our operations and infrastructure," company Founder & CEO Julie Wainwright, said in an official statement. "In addition, this investment will help us accelerate our supply and customer acquisition efforts, further cementing our position as the leading marketplace for authenticated luxury consignment."
The RealReal has changed the way people buy and sell luxury items, by reinventing the online marketplace for previously-owned luxury goods. The company provides product authentication, fast liquidity, and the best possible value for its buyers and sellers. Its luxury categories include women's and men's fashion, fine jewelry and watches, and fine art. The company plans to expand into new luxury categories in 2014.
Managing Partner Cynthia Ringo of DBL Investors states, "We are thrilled to be working with Julie Wainwright and The RealReal's executive team to propel the company to even greater success. The RealReal's creation of a new marketplace for luxury resale promotes sustainability by extending the lifespan of upscale goods. Furthermore, the company's strong opportunities for job creation and employee development are well-aligned with DBL's double-bottom line mission."
The RealReal has 2.4M members, processes more than 40,000 luxury items per month, and has shipped more than 450K luxury items to date.
About The RealReal
The RealReal is the online leader in authenticated luxury consignment. We offer the largest marketplace of designer brands such as Chanel and Louis Vuitton, fine watches and jewelry, and fine art. The RealReal has won favor with luxury consignors and buyers as a next-generation consignment site by providing guaranteed authenticity of product and a superior consigning and shopping experience. A full-time staff of authenticators, horologists, licensed gemologists and art curators accept tens of thousands of new products into our warehouse each month. Consignors receive up to 70% of the sale price of their items, and buyers enjoy up to 90% off retail for our luxury goods. www.therealreal.com
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