Curated Fashion Marketplace Grailed Raises $15 Million in Series A Funding
Grailed, the community-driven marketplace for curated men’s clothing, announced today the close of a $15M Series A investment round led by Index Ventures, with continued participation from Thrive Capital and Simon Ventures.
The new investment brings the company's total funding to about $20 million and provides resources to further enhance the customer experience, expand marketing efforts, and deepen product supply across Grailed and its womenswear-focused sister property, Heroine, which launched in October 2017.
Founded in 2013, Grailed has captured a highly engaged global audience by providing distinct editorial content, a devoted community of like-minded enthusiasts, and curated product from coveted brands across streetwear and designer fashion. On both Grailed and Heroine, buyers and sellers galvanize around brands like Supreme, Off White, Raf Simons, Saint Laurent, Celine, and more.
“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. “We’re excited to create an even stronger community and expand our product offering to serve a fast-growing base of men’s and women’s fashion customers all over the world--with a trusted point of view they can’t find anywhere else.”
Headquartered in San Francisco and London, Index Ventures invests globally in technology-enabled companies and brings sector-specific expertise in fashion, luxury, and retail. Prior investments in the category include Net-A-Porter, END Clothing, Farfetch, Goat, and ASOS.
“Grailed’s track record of organic growth and success in cultivating a devoutly loyal audience demonstrates the passion and consideration the team pours into creating a dynamic marketplace that users have come to love,” said Danny Rimer, General Partner at Index Ventures. “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.”
Danny Rimer will join the company’s board of directors, which currently includes Chris Paik of Thrive Capital and Grailed co-founders Arun Gupta (CEO), Jake Metzger (Head of Marketing), and Julian Connor (CTO).
Founded in 2013, Grailed is the leading community marketplace for curated men’s clothing. Heroine, the company’s womenswear-focused sister property, launched in 2017. Both Grailed and Heroine are built “for enthusiasts, by enthusiasts,” and feature products from exclusive streetwear, designer, and contemporary fashion brands including Supreme, Off White, Rick Owens, Raf Simons, Gucci, Saint Laurent, Balenciaga, Prada, Celine, and more. Combining a robust editorial platform and a highly vetted selection of secondhand pieces, Grailed and Heroine make the best clothing affordable and available to everyone. The company aims to foster an interactive and educational space for people to buy, sell and explore men’s and women's fashion.
Published — June 21, 2018