Luxury Consignment Site RealReal Raises $20 Million

RealReal, a consignment website that sells unwanted luxury goods harvested from the homes of their original owners, has raised $20 million in venture funding, the company announced on May 6. The series C round nearly doubles the amount the San Francisco startup has raised to date.

Julie Wainwright, the company’s founder and chief executive, told Bloomberg Businessweek last year that getting ahold of enough second-hand designer clothes, bags, and accessories has always been the business’s limiting factor. The company, which began in 2011, has resold more than 450,000 luxury items. Wainwright said last year that 2013 revenue was expected to be more than $50 million. And the company has expanded beyond clothes and accessories to sell art as well.