Streetwear resale site Grailed has closed on a Series B funding round of 60 million dollars led by Goat Group with participation from new investor Groupe Artémis and prior investors Thrive Capital and Index Ventures. The news was reported by WWD.
Groupe Artémis was founded by Kering chairman and CEO Francois Pinault. Grailed will use the new funding to enhance its authentication services, payment structure, merchandising, content, editorial, and sales format. Grailed has been able to keep counterfeit merchandise at less than 0.5 percent.
In addition to the latest round of funding, Grailed has appointed Goat Group chief operating officer Yunah Lee to its board of directors. Since Grailed’s Series A funding round, their platform has doubled in size with over 7 million global users and 3 million listings from 10,000 luxury and streetwear brands.