Grailed, the US-based operator of an online re-sale platform for menswear, has raised $60m in a series B round led by online sneaker marketplace Goat Group.
Thrive Capital and Index Ventures filled out the round, alongside investment holding company Groupe Artémis and Marco Bizzari, chief executive of fashion brand Gucci.
Founded in 2013, Grailed operates an e-commerce platform where users can buy and sell men’s streetwear, including apparel and sneakers.
The fashion industry is experiencing an increasing amount of investment in the re-sale segment, which is seen as an answer to some concerns over sustainability in the industry, and by extension a lucrative investment proposition as those concerns continue to intensify.
The funding will be used to recruit new sellers, who are expected to bring in more buyers. Having waited a few years since its last round, Grailed pulled the trigger now after figuring out its authentication process, and is now ready to scale despite facing stiff competition, CEO Arun Gupta told Vogue Business.
The company secured $15m in its 2018 series A round, which was led by Index Ventures and which also featured property developer Simon’s corporate venturing subsidiary, Simon Ventures, and Thrive Capital. The last two were both existing investors and the round boosted Grailed’s overall funding to $20m.
Arun Gupta said: “We would not be where we are today without our amazing and vibrant community of enthusiastic buyers and sellers. In Goat Group, we saw an incredibly like-minded partner who is just as passionate and forward thinking about the global fashion community as we are.
“With Goat’s investment, we are excited to deliver powerful new features across the platform and to double down on our bold innovations in authentication at an even faster pace.”
