SAN FRANCISCO — The RealReal, a seller of used luxury goods online and in stores, has closed $115 million in Series G financing. The round was led by PWP Growth Equity, the private equity division of Perella Weinberg Partners, with additional participation from new investor Sandbridge Capital and existing investor Great Hill Partners.
As part of the investment, Chip Baird, Co-Founder and Partner of PWP Growth Equity, will join The RealReal’s board of directors. With this round, The RealReal has raised a total of $288 million in equity capital.
“This new round of funding will allow us to expand our brick-and-mortar footprint into new markets, as well as support our growing supply of luxury goods with new e-commerce fulfillment centers,” said The RealReal CEO and Founder Julie Wainwright. “Over the last seven years, we have re-envisioned the experience of buying and selling luxury goods, and become a leader in the circular economy for luxury goods.”
Chip Baird commented, “Julie and her team have created an industry-leading company that is redefining the consignment marketplace and how consumers acquire luxury goods. With a continued move towards e-commerce and the rise of second-hand good purchases, The RealReal is uniquely positioned to benefit from these shifting trends. We are excited to partner with the company as they work to bring their innovative marketplace to even more consumers and consignors.”
The RealReal has 90+ in-house authenticators that inspect thousands of items daily ensuring the authenticity of every item it sells.