StockX, the US-based operator of a stock exchange for consumer goods, has completed a $44m series B round co-led by GV, the corporate venturing unit formerly known as Google Ventures.
GV, a subsidiary of internet and technology group Alphabet, co-led the round with Battery Ventures, with contributions from fellow venture capital firms Detroit Venture Partners and Courtside Ventures.
The round was filled out with angel investors including model Karlie Kloss, rapper Eminem, actor Mark Wahlberg, DJ Steve Aoki, Don C, Marc Benioff, Bob Mylod, Shana Fisher, Jonathon Triest, Ted Leonsis, Tim Armstrong, Scooter Braun and Ron Conway.
Founded in 2016, StockX has built a liquid marketplace for consumer items such as clothing, watches and accessories, enabling prospective buyers to make bids and sellers to set requested prices.
Each item is authenticated by StockX, and the company also provides information covering market prices, sales histories and details of bids and asking prices. It will use the series B funding to expand its categories of products and build new authentication centres.
StockX had previously raised $6m in series A funding from SV Angel, Detroit Venture Partners and angel investors including Mark Wahlberg, Scooter Braun, Eminem and Wale in February 2017.
GV general partner Joe Kraus said: “There is a huge opportunity for StockX to continue to diversify and scale its products with the efficiency and transparency that have become hallmarks of the company’s marketplace.
“Between StockX’s rapid development and the founding team’s ability to create a high-growth enterprise, the company is well-positioned to meaningfully impact the market for sought-after consumer products.”