Poshmark, the US-based operator of a social commerce marketplace for fashion items, secured $25m in funding on Wednesday from backers including Shea Ventures, the corporate venturing subsidiary of property development group J.F. Shea.
Venture capital firm GGV Capital led the round, which included Mayfield, Menlo Ventures, Inventus Capital, Union Grove Venture Partners, AngelList and SoftTech VC.
Poshmark runs a social marketplace for female fashion. It has a base of around 1.5 million sellers, and purchases are encouraged by a social merchandising engine where ‘Stylists’ can curate and recommend items for their followers.
The company recently opened its platform up to fashion brands, allowing them to sell goods through its seller network.
The round brought Poshmark’s total funding to more than $70m since it was founded in 2011. Shea Ventures also participated in a $25m series C round in April 2015 featuring Mayfield, Menlo Ventures, Inventus, Union Grove and SoftTech VC.