The RealReal, the luxury consignment company, has raised $40 million in Series D funding, bringing the company’s total funding to $83 million.
Industry Ventures led the funding, which also includes returning investors Canaan Partners and InterWest Partners and new investors e.ventures, Greycroft Partners, and DBL Investors. Cynthia Ringo of DBL Investors will join the RealReal’s board of directors.
“This new round of funding will be instrumental in allowing us to double our revenue while driving toward profitability, both of which are top priorities for the company in 2015,” said RealReal CEO and founder Julie Wainwright. “In addition, we’re laser-focused on scaling the business operationally and continuing to provide our members with the best authenticated luxury shopping and consigning experience anywhere.”
The company has 3.5 million members, 315 employees, and ships to 61 countries. It projects that it will pay consigners, who make 60 to 70 percent of the sale price, more than $100 million in 2015.