Female-founded upscale resale company the RealReal, which specializes in luxury consignment clothing items, announced a $50 million round of funding from private equity firm Great Hill Partners.
With this round of financing, the upscale resale company joins the ranks of female-run startup Rent the Runway. To date, the eCommerce consignment site has raised $173 million, bringing it into the realm of one of the most successful female-founded companies. It’s also rumored that the RealReal may be opening up brick-and-mortar consignment shops this year.
The RealReal’s CEO, Julie Wainwright, commented on the difficulties of trying to convince venture capital investors to sink their money into her company and eCommerce resale shops. She said, “When you have different businesses that aren’t proven that may appeal more to a female [customer], a female investor is going to be able to evaluate that better than a male investor could. I think in general, most VCs are trying to do their jobs, but there are a lot of unconscious biases.”