Tradesy Nabs $13 MillionTuesday, May 20, 2014
Santa Monica’s Tradesy, a peer-to-peer fashion marketplace, raised $13 million in a Series B financing round led by Kleiner Perkins Caufield & Byers, with participation from Richard Branson, Rincon Venture Partners, Bee Partners, Northgate Capital and others.
Kleiner Perkins General Partner John Doerr will join the company’s board along with Stephanie Tilenius, an executive-in-residence at the venture fund.
Tradesy said in a press release that it has 1.3 million members and the world’s largest selection of authenticated designer resale merchandise for women. The company said sales are growing by 35 percent every month, with more than 50 percent of monthly sales coming from repeat buyers and sellers.
“Eighty percent of the money that Tradesy members earn is used to finance another purchase in the same category,” Tracy DiNunzio, the company’s founder and chief executive, said in the statement.
Tradesy, which participated in the Launchpad LA accelerator in the summer of 2012, raised $1.5 million in Series A funding months later.