Internet & IoT Startup Poshmark Raises $50 Million

Poshmark announced it has secured $50 million in financing. GGV Capital, Menlo Ventures, Mayfield Fund, and SoftTech VC participated in the funding.

Poshmark, founded in 2011, is a social marketplace for fashion where anyone can buy, sell, and share their style with others. The company’s mission is to make shopping simple and fun by connecting people around a love of fashion, while empowering entrepreneurs to become the next generation of retailers. Recognized as the go-to shopping destination for millennials, Poshmark’s more than two million “seller stylists” help users navigate through 25 million items and 5,000 brands.