Grailed, the online marketplace for luxury streetwear and vintage fashion, raised $60 million in a Series B funding round. The funding was led by fellow resale player Goat Group with participation from Groupe Artémis and existing investors Thrive Capital and Index Ventures.
New York-based Grailed intends to use the cash to boost its authentication services and improve its payment processing system, merchandising, and the larger content strategy for its editorial/e-commerce site.
“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.”
Yunah Lee, COO, Goat Group, will be appointed to Grailed’s board of directors.
“We are incredibly excited to lead Grailed’s second funding round and partner with them to advance the experience for our two communities,” Goat Group co-founder and CEO Eddy Lu said in a statement. “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.”
In June 2018, Grailed announced it closed a Series A funding round of $15 million. The round was led by Index Ventures with participation from Thrive Capital and Simon Ventures. At the time, the investment brought the company’s total funding to roughly $20 million.