Poshmark, a Redwood City, Calif.-based community marketplace for fashion, raised $25m in funding.
The round was led by GGV Capital, with particiaption from previous investors Mayfield, Menlo Ventures, Inventus Capital, Union Grove Venture Partners, Shea Ventures, AngelList and SoftTech VC. In conjunction with the funding, Hans Tung, Managing Partner at GGV Capital, joined Poshmark’s board of directors.
The company, which has raised over $70m to date, will use the funds to continue to expand operations.
Led by Manish Chandra, founder and CEO, Poshmark has built a community of women who can connect, buy and sell from each other – right from their phones via iOS and Android, apps, and recently launched a service which gives both big and independent fashion brands the opportunity to sell merchandise through its seller network.
The platform currently counts over 1.5 million sellers.