Luxury consignment site The RealReal continues to reel in the cash.
Private equity firm Great Hill Partners invested $50 million in The RealReal, No. 195 in the Internet Retailer 2017 Top 500. This latest round of financing comes just over a year after The RealReal raised $40 million in a financing round led by venture capital firm Greenspring Associates.
This brings the total amount raised by The RealReal to $172.97 million over seven rounds of funding, according to CrunchBase, Great Hill also participated in a December 2012 $36.3 million financing round for home furnishings retailer Wayfair Inc. (No. 16).
This latest round will help The RealReal expand offline presence, though the company doesn’t specify how many additional stores it plans to open. The RealReal currently has six physical locations nationwide.
“Six years in, The RealReal continues to expand in exciting ways, and this incremental capital will be instrumental in supporting the business and our continuous growth,” founder Julie Wainwright said.
According to Top500Guide.com, The RealReal generated an Internet Retailer-estimated $184.5 million in online sales last year, up 30.0% from $141.9 million in 2015.Favorite