Poshmark operates a social marketplace for fashion where anyone can buy, sell and share style with others. The platform hosts a community of over three million Seller Stylists, with shoppers able to discover looks from more than 25 million items and 5,000 brands. The company recently introduced Poshmark Stylist Match, an in-app social styling engine with a voice-enabled Amazon Alexa skill, available on Poshmark.com and via iOS and Android apps. Poshmark plans to use new funding to expand into new categories and build immersive, data-driven shopping experiences for its community. Financially, the company has raised substantial external capital to support growth and product innovation. Poshmark operates a social commerce app for buying and selling primarily women’s fashion, with an Instagram-like feed and follower-driven discovery. The site has attracted 1.5 million sellers since its launch and mixes used clothing with newly sourced brand items sold through merchant accounts. The company offers popular accounts the ability to buy at wholesale and resell, and says it is looking to expand that business. Poshmark plans to add men’s and children’s fashions, introduce home furnishings, and expand beyond the U.S. to Canada, Europe and Australia. The founder and CEO, Manish Chandra, says the business has been “steadily marching toward profitability”; the company also notes lower operating costs because it does not own inventory. Investors report strong growth — Menlo Ventures says Poshmark has grown 40x since their investment. Poshmark operates a mobile marketplace that enables women to buy and sell clothing and accessories directly from each other's closets. As an iPhone-only app at the time of the article, the company planned to expand the product to iPad, Android and the web and to scale up support infrastructure. Users are adding items to the marketplace at an aggregate rate of $100 million worth of clothing and accessories per year, with about 25% of listed items ending up purchased. The app shows high engagement: the average user opens it 25 minutes a day, 7–8 times daily, and 70% of buyers later list items for sale themselves. The company was founded in 2011 and had raised a $12 million Series B to support this expansion, bringing total funding to $15.5 million since inception. At the time of the article Poshmark had 20 employees. Poshmark is an iPhone app that recreates clothing swaps on a mobile feed where sellers upload item images, apply filters, and list details like original price, listing price, category and size. Users can buy items via a prominent "buy" button and pay with a credit card; Poshmark handles the transaction and shipping and collects a 20% transaction fee. The app hosts themed "Posh Partys," held twice a week with around 40–50 women logged in at a time, to simulate real-time, themed swapping. At launch the company announced $3.5 million in funding from a group of investors. Founders named in the article are former Kaboodle founders Manish Chandra, Gautam Golwala and Chetan Pungaliya, along with Tracy Sun. The company plans future services such as including fancier packing materials with shipping labels and adding search functionality to improve navigation.

Total raised

$128M

Funding rounds

4

Latest round

Series D

Latest activity

Nov 2017