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Fashion startup ThredUp raises $23M to put a hurt on Poshmark & Threadflip

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ThredUp, a startup that has built an online spin on a consignment store, has just raised $23 million in funding, according to a filing with the U.S. Securities and Exchange Commission.

The San Francisco-based company, which sells and buys like-new clothing, intends to raise $25 million for this round, according to the document.

ThredUp did not respond to VentureBeat’s request for comment.

The funding could help ThredUp grab more attention than competitors, which include the better-known Poshmark, Threadflip, and Twice.

Previous investors from Highland Capital Partners, Redpoint Ventures, and Trinity Ventures are named in the filing. So are former Netflix and Clinkle executive Andy Rendich, Greg Bettinelli of Upfront Ventures, and ThredUP co-founder and chief executive James Reinhart.

ThredUp was founded in 2009. The startup announced $14.5 million in funding in 2012 and a $7 million round the prior year.

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