TheRealReal: Luxury Online Consignment Site Just Raised More Cash — This brings the online consignment site’s total funding to over $100 million.

Fortune
By Leena Rao
April 21, 2016

Ven­ture cap­i­tal­ists are pour­ing more money into mar­ket­places for used clothes. Just a week after Posh­mark, a mobile cloth­ing mar­ket­place raised $25 mil­lion, rival The­Re­al­Real is also announc­ing a new $40 mil­lion cash infusion.

The­Re­al­Real, which focuses on lux­ury cloth­ing, jew­elry, and art, has raised a new fund­ing round led by Green­spring Asso­ciates, with new investors Broad­way Angels, Next Equity, and Spring­board Fund par­tic­i­pat­ing. Exist­ing investors Canaan Part­ners, e.ventures, Grey­croft Part­ners, Inter­West Part­ners, DBL Part­ners, and Indus­try Ven­tures also backed the com­pany, bring­ing TheRealReal’s total fund­ing to $123 mil­lion. The com­pany declined to dis­close its valuation.

 Unlike Posh­mark and eBay, The Real­Real actu­ally takes pos­ses­sion of clothes, bags and jew­elry from sell­ers in order to authen­ti­cate it, and will even pick up inven­tory from seller’s homes for a fee. For its ser­vices, The Real­Real takes a 40% cut. (Once a seller hits $10,000 in sales, the cut drops to 30%.)
To read the full arti­cle, visit For­tune.