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§ Private Profile · 530 7th Ave 1504, New York City, New York 10018, US
TrueFacet is a technology company.
TrueFacet operates an online marketplace dedicated to the buying, selling, and trading of pre-owned luxury watches and jewelry. The platform differentiates itself by emphasizing authenticity, transparency, and trust within the high-end secondary market. It provides a secure environment for transactions, ensuring that all listed items undergo rigorous authentication processes before reaching consumers.
The company was founded in 2014 by childhood friends Tirath Kamdar and Chris Chan. Kamdar’s background in his family's jewelry business exposed him to the inefficiencies and lack of trust prevalent in the pre-owned luxury sector. Coupled with Chan’s experience as a derivatives trader, they identified a significant opportunity to leverage technology to create a more transparent and reliable marketplace for valuable, pre-owned items.
TrueFacet serves discerning consumers looking for authenticated luxury watches and jewelry, as well as individuals seeking to sell or trade their high-value items with confidence. The company envisions becoming the leading online destination for authenticated luxury resale, building consumer trust and broadening access to premium goods through its verified marketplace model.
TrueFacet has raised $15.5M across 6 funding rounds.
TrueFacet has raised $15.5M in total across 6 funding rounds.
TrueFacet has raised $15.5M in total across 6 funding rounds.
TrueFacet's investors include Maveron, Betaworks Ventures, Bling Capital, Catapult Capital, ENIAC Ventures, Fifth Wall, FirstMark Capital, Founders' Co-op, Khosla Ventures, Jonathan Golden, Norwest Venture Partners, Offline Ventures.
TrueFacet has raised $15.5M across 6 funding rounds. Most recently, it raised $6.0M Series A in September 2016.
TrueFacet is an online marketplace for buying, selling, and trading authenticated pre-owned luxury jewelry, watches, and handbags, addressing trust issues in pricing and authenticity within the second-hand luxury goods market.[1][2][3] Founded in 2014 and headquartered in New York (with a recent shift noted to San Francisco by 2023), it serves luxury consumers by offering certified items from top designer brands at discounts up to 70%, alongside services like consignment, appraisal, refurbishment, and a real-time pricing engine.[1][3][5] The platform generated over $280,000 in gross merchandise sales in its first six months and later reported multi-million dollar Black Friday sales, demonstrating strong growth in the vibrant secondary luxury market.[1][3]
TrueFacet was founded in January 2014 by CEO and co-founder Tirath Kamdar, who drew from over eight years of experience in the jewelry industry where he observed daily frustrations with authenticity and fair pricing for pre-owned items.[1][2] The idea emerged to create a trusted online platform solving these pain points, starting as part of the TechStars Seattle incubator with a Demo Day in November 2014.[1] Early traction included rapid sales growth and expertise from authenticators with over 50 years of combined experience, evolving from a New York base (530 7th Avenue) to incorporating tech like photo recognition for fakes.[1][5]
TrueFacet rides the wave of the expanding second-hand luxury market, fueled by demand for vintage items, sustainable consumption, and the lasting quality of fine jewelry amid economic pressures favoring discounts.[1][3] Its timing aligns with e-commerce growth in luxury resale, outpacing traditional retail during events like Black Friday, while market forces like online authentication tech reduce fraud risks in a sector often lacking regulation.[1][3] By influencing the ecosystem through partnerships with major brands and a transparency model, it sets standards for trust in digital luxury goods trading, competing with players like Worthy and Chrono24.[2]
TrueFacet's trajectory points toward scaling as the go-to destination for second-hand luxury, potentially expanding into more categories like handbags amid rising resale trends and AI-driven authentication.[1][2][3] Trends like sustainability, personalized pricing via data analytics, and global e-commerce will shape its path, with influence growing through network effects in buyer-seller trust. As the secondary market vibrates stronger, TrueFacet's authenticity promise positions it to dominate, echoing its founding mission to restore confidence in luxury resale.[1]