One of North America’s fastest-growing online retailers just received a major round of funding to help further its growth.
Luxury consignment e-retailer The RealReal announced today that it had closed on a $40 million round of funding. Sales at The RealReal, No. 295 in the 2014 Internet Retailer Top 500 Guide, have skyrocketed 7200% from 2011, its first year of operation, to 2014, going from an Internet Retailer-estimated $1.4 million to more than $100 million last year. According to Top500Guide.com, more than 60% of its shoppers are women and repeat shoppers account for nearly 66% of sales.
The retailer has raised $83 million in capital to date. Founder Julie Wainwright says the latest round is designed to help the company continue to grow rapidly.
“We’re laser-focused on scaling the business operationally and continuing to provide our members with the best authenticated luxury shopping and consigning experience anywhere,” she says.
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