The RealReal ropes in $50 million in new funding

TechCrunch
By Connie Loizos
June 6, 2017

The Real­Real, a six-​​year-​​old, San Francisco-​​based com­pany focused on authen­ti­cated, high-​​end resale items for women, men, and the home, has landed $50 mil­lion in growth fund­ing from the pri­vate equity firm Great Hill Partners.

The round, which brings the company’s total fund­ing to $173 mil­lion, did not include pre­vi­ous back­ers; a spokes­woman for the com­pany says Great Hill “wanted all of the investment.”

The cash infu­sion comes at an impor­tant junc­ture for The Real­Real, which now employs more than 800 peo­ple and has pushed out the time by which it will turn prof­itable, set­ting its sights instead on spread­ing brand aware­ness by expand­ing its phys­i­cal footprint.

Already, the com­pany has opened six val­u­a­tion offices in the last 18 months, includ­ing in San Fran­cisco, New York, L.A., Chicago, and Wash­ing­ton, D.C. The spaces enable con­signors to con­sult directly with val­u­a­tion experts about their fine jew­elry and watches.

Last month, in a sit-​​down with this edi­tor in San Fran­cisco, CEO Julie Wain­wright said that The Real­Real is also weigh­ing a strat­egy of open­ing a series of brick-​​and-​​mortar stores, start­ing first with one New York loca­tion that a Real­Real spokes­woman says is still being locked down and should be open for busi­ness in late fall or early win­ter this year.

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