Grailed raises $15M in Series A funding
Grailed has secured $15 million in Series A funding, bringing the company's total backing to $20 million. The new funds will be used on consumer experience, marketing and expanding women's product for sister site, Heroine.
“Grailed was born out of a shared love for menswear, and we couldn’t be more grateful for the overwhelming customer and industry response we’ve seen in the past five years,” said Arun Gupta, co-founder and CEO, in a release.
The site was founded in 2013 as a curated menswear marketplace for buying and selling. Brands sold include Supreme, Off-White, Raf Simons, Saint Laurent and Celine.
The site gained popularity for its editorial content which celebrated a range of style from streetwear to designer fashion. In October 2017, Grailed expanded into women's product with a site named Heroine.
Danny Rimer, general partner at Index Ventures, who led this round of Series A fundraising, said “We believe Grailed is uniquely positioned in the fashion resale market and we look forward to supporting the company in realizing its substantial opportunity ahead.”
Index Ventures has previously invested in ASOS, Farfetch, Net-a-Porter, Goat and End Clothing. The firm specializes in tech-enabled companies operating in fashion, luxury and retail.
As part of the investment, Rimer will join the company’s board of directors. Co-founder and CEO Arun Gupta, Head of Marketing Jake Metzger, and Chief Tech Officer Julian Connor also sit on the board.
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