Poshmark, a US-based online fashion marketplace backed by property development group JF Shea, secured $87.5m in series D funding yesterday from a consortium led by Singapore state-owned investment firm Temasek.
Mayfield Fund, Menlo Ventures, GGV Capital, Inventus Capital, Uncork Capital, Union Grove Venture Partners and Cross Creek Advisors also contributed to the series D round, which pushed Poshmark’s total funding to almost $160m.
Founded in 2011, Poshmark operates a social marketplace focused on fashion that enables users to sell, buy and curate styles. The platform was initially geared towards women but is increasingly attracting a male contingent to its user base.
The funding was announced as Poshmark unveiled a feature that enables users to be styled in real time by being matched to one of more than three million personal shoppers, which Poshmark calls Seller Stylists, through voice assistant Amazon Alexa.
Poshmark had previously raised $25m in funding in an April 2016 round led by GGV Capital, with participation from JF Shea’s corporate venturing arm, Shea Ventures, as well as Mayfield, Menlo, Inventus, Union Grove, AngelList and SoftTech VC.
Shea Ventures also took part in the company’s $25m series C round in 2014 alongside Mayfield, Menlo Ventures, Inventus, Union Grove and SoftTech VC.