Online consignment shop Tradesy of Santa Monica announced on Monday it received a $30 million Series C round.
The e-commerce startup raised money to hire additional data scientists to analyze shoppers’ behaviors as well as to run national cable TV advertising campaigns.
Tradesy connects sellers and buyers of lightly used clothing, handbags, and shoes on its website. The e-retailer focuses on listing luxury brands, such as Louis Vuitton, Hermes, and Chanel. It takes a 9 percent commission on transactions.
The online used-clothing industry has consolidated recently. Nasty Gal of downtown Los Angeles had several rounds of layoffs over the last year and Shop Hers of Santa Monica sold to Tradesy for an undisclosed amount in November. Remaining rivals, such as RealReal and Poshmark, have also raised large funding rounds this year to push expansion.
“I still think it’s winner take all and we're still pushing to be the winner,” Tradesy Chief Executive Tracy DiNunzio said in an interview with Recode. “But whether winner takes all means everyone else dies, I don't know.”
The company’s Series C round was led by Wildcat Capital Management, the family investment office of billionaire David Bonderman, founding partner of San Francisco private equity firm TPG Capital. Other investors included Kleiner Perkins Caulfield & Byers and Rincon Venture Partners. The startup has raised $74.5 million since its founding in 2012.