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%.)
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