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  • 04.21.16

E-commerce luxury consignor The RealReal snags funding

Selling luxury that’s “gently used” is a tricky business. How does the average buyer distinguish a real Chanel from a fake? The RealReal built a business by authenticating high-end designer goods before offering them for sale through its platform, putting them head-to-head with the likes of eBay and others.

Since 2011, that model has served its founder Julie Wainwright well: Revenues have doubled nearly every year, exceeding $100 million in 2015. 

The company just announced a new capital injection of $40 million in Series E funding led by Greenspring Associates, and other investors including Broadway Angels, Next Equity, and Springboard Fund. In a statement, Wainwright said The RealReal will grow globally while still offering an “easy, trustworthy, and lucrative” way to buy and sell luxury items online.

LD