Mobile Fashion Marketplace Poshmark raises $ 12M Series B Led by Menlo Ventures

Menlo Park, California, 4th December 2012 - / PRNewswire / - Poshmark the mobile market more dynamic fashion, today announced the completion of $ 12 million in Series B financing led by Menlo Ventures investment company, with the company financing of $ 15.5 million to date. Existing investors Mayfield Fund, Inventus Capital, SoftTech VC, and also participated in the round. Poshmark want to use the capital to support its growing community. Expanding into new platforms and the addition of world-class talent in the team Louis Vuitton Bags For Women (Photo: http://photos.prnewswire.com/prnh/20121204/SF23359) "A one-of-a-kind Poshmark, inclusive community, where different women across America come together around a common passion for fashion combine created," said Manish Chandra, CEO and founder of Poshmark. "With over 70% of our customers through the sale of goods, our new dynamic model of trade is poised to make a mark on the fashion market of $ 300B empower women to dress to unlock the value of their care." Since its inception a year ago Poshmark advantage of increased consumer confidence in the sale of clothing and accessories has to be taken to new, its mobile-first strategy and innovative business events in real time, buy, its anchor first-mover advantage. The main steps are: Users can view the items from her wardrobe to add to the market in the amount of $ 100 million per year, so that virtual storage Poshmark stronger than most physical trading in the United States Addicted to commit an average of 7 times per day, for a total of 25 minutes per day, the Poshmark top mobile application for most users. A social community with more than two million monthly interactions among members for orders, share and communicate with them about their wardrobes. "Nothing in my wardrobe is more secure. Unless I wear, I will sell it on Poshmark and the money to something that I really love to buy," said Mackenzie Lachey, a cake business and residents bought Ohio 24 years and has sold more 300 times in the first three months of the application. "I mark Poshmarkers others who share a common style points with me, I think they would. We are always on the lookout for each other. Buying and selling makes it much more personal." With the introduction of the iPad, Android and Web on the horizon for 2013, the company is directing funds to the needs of users and the availability of performance Poshmark to expand on all platforms, while continuing to rely on the strength of the existing community. They intend to add top talent to the team and continue with the users to connect online and offline with their unique Posh parties. Chanel Bags Neiman Marcus "We could not be happier to lead this round of financing Poshmark" said Pravin Vazirani, CEO of Menlo Ventures. "We are always in search of the offending players in each sector and the community involved Poshmark. The infinite possibilities of the scale and innovative mobile-first approach, they are winners'