Men’s fashion resale site, Grailed, has raised $60 million in a Series B funding round led by GOAT Group, the parent company of sneaker resale sites Goat and Flight Club.
Groupe Artémis, the holding company of the Pinault family, Gucci CEO Marco Bizzari and existing investors Thrive Capital and Index Ventures also supported the investment round.
The company plans to use the funding to enhance its digital authentication processes and develop new features and tools for its sellers and buyers. It is also appointing Yunah Lee, the COO of GOAT Group, to its board of directors.
The latest investment round comes nearly three years after the company raised $15 million in Series A funding, which increased its valuation to nearly $20 million.
Since then, Grailed has doubled in size,v with its global user base reaching 7 million. The company’s platform also boasts more than 3 million listings and 100,000 luxury labels and streetwear designers.
“We wouldn’t be where we are today without our amazing and vibrant community of enthusiastic buyers and sellers,” Grailed CEO Arun Gupta said in a statement. “In GOAT Group, we saw an incredibly like-minded partner who is just as passionate and forward-thinking about the global fashion community as we are. With GOAT’s investment, we are excited to deliver powerful new features across the platform and to double-down on our bold innovations in authentication at an even faster pace.”