Poshmark turns heads with $25M funding, Apple Watch app – Mobile World Live

Poshmark turns heads with $25M funding, Apple Watch app

22 APR 2015

Poshmark, which launched an iOS app three years ago that allows women to buy and sell clothes from each other, announced $25 million in new funding, along with plans to make the app available on Apple Watch.

Poshmark expanded to Android last year and now claims a registered user base that runs into “single-digit millions”.

The company also announced a $200 million run-rate in annual sales.

When the Poshmark app will become available on Apple Watch, however, is not yet clear. But it will have real-time interaction and personalised notifications, said Poshmark founder and chief executive Manish Chandra.

“It’s a smaller, fast factor platform,” she told The Wall Street Journal. “On the watch, users can like items and follow designers.”

Poshmark expects to branch into children’s clothing later this year and men’s in 2016.

The $25 million series C funding includes investment from Mayfield, Menlo Ventures, Inventus Capital, Union Grove Venture Partners, Shea Ventures, and SoftTech VC.

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Ken Wieland

Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight...More

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