Grailed secures $60 million funding round led by Goat
The online marketplace for luxury streetwear and vintage fashion Grailed has secured a Series B funding round of $60 million.
The funding round was led by Goat Group and other investors, including Groupe Artémis, the holding company of the Pinault family; Gucci CEO Marco Bizzari; and existing investors Thrive Capital and Index Ventures.
The new funds will be used to improve New York-based Grailed’s digital authentication process and invest in more tools for sellers and buyers.
“We are incredibly excited to lead Grailed’s second funding round and partner with them to advance the experience for our two communities,” said Eddy Lu, CEO of Goat Group, the move solidifying Goat Group’s position in the resale market.
"Grailed and Goat share a common approach, based on authenticity, trust and a highly curated perspective on style, which is core to our brand as we bring the greatest products together from the past, present and future.”
Additionally, Grailed stated that Yunah Lee, the COO of Goat Group, will be appointed to its board of directors.
In June 2018, Grailed secured $15 million in Series A funding, bringing the company's total backing at the time to $20 million. Grailed first launched as a marketplace for menswear and expanded into women's product with a site named Heroine, in October 2017.
“We wouldn’t be where we are today without our amazing and vibrant community of enthusiastic buyers and sellers,” Grailed CEO, Arun Gupta, said in a statement.
“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.”
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