OfferUp Secures $119M in Series C-1 Financing

offerupOfferUp, a Bellevue, Wash.-based mobile marketplace for local buyers and sellers in the U.S., secured $119m in Series C-1 financing.

The round, which brought total fundraising to more than $210, was led by Warburg Pincus, a global private equity firm focused on growth investing, with participation from new investors GGV Capital and Altimeter Capital and existing investors Andreessen Horowitz, T. Rowe Price, Vy Capital and Coatue Management, among others.

The company will use the capital to enhance its user experience and expand to new markets.

Led by CEO Nick Huzar and Arean van Veelen and come out of stealth in 2015, OfferUp operates an iOS and Android mobile marketplace for local buyers and sellers. It allows users to list an item using a phone or tablet, know who they are dealing with through reputation and safety features, browse local items with thousands of new postings daily by image and sort by category or location, message buyers and sellers from within the app, and build reputation with a seller profile page.



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