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InterWest leads RealReal deal through $14m Series B round

17 Apr 2013

shoes-evening_sqInterWest Partners has led a $14m financing round for luxury online designer goods reseller The RealReal.

All of the company’s Series A investors took part in the Series B round, including Canaan Partners, e.ventures and Greycroft Partners, while Panarea Capital and TMT Ventures were among the new investors.

RealReal claims to have more over 750,000 members making more than 1.5 million visits to the website each month, and said it grew revenue more than tenfold in the last year.

The company said it planned to use the Series B capital to expand its infrastructure to support its growth.

InterWest Partner Keval Desai said, “Over the years, we have evaluated a number of e-commerce companies and there is no doubt The RealReal has created a marketplace with the most coveted product offering.

“This, along with their outstanding team, made it a very easy decision for us to invest in the company.”

Earlier this month Iris Capital and internet entrepreneur fund Isai provided €2m to second hand luxury products reseller InstantLuxe.com to develop a mobile application for the website.

InstantLuxe, which currently has 500,000 members, also plans to increase its presence in France and elsewhere in Europe.

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