Luxury reseller The RealReal filed documents with the Securities and Exchange Commission to prepare for an initial public offering.

The move follows last month’s appointment of four new members to its board of directors—Stefan Larsson, James (Jim) Miller, Niki Leondakis and Rob Krolik—by The RealReal’s chief executive officer and founder, Julie Wainwright.

Founded in 2011, the San Francisco–based The RealReal began as an online reseller using proprietary technology but has expanded within recent years to include bricks-and-mortar locations. With its focus on selling premium goods such as apparel, accessories and footwear under an agreement with consigners, The RealReal operates without the traditional retail risks of investing in inventory.

Revenues for the company totaled $207.4 million in 2018, up 55 percent over 2017. Net losses for 2018 totaled nearly $76 million, an increase from a net loss of $52.3 million in 2017.

By selling stock, The RealReal expects to raise $100 million and will trade on the NASDAQ under the symbol “REAL.”

The company said it would use the money from its IPO to support operations and investment in new technology. Additionally, 1 percent of net proceeds would support its charitable arm, The RealReal Foundation.

“We intend to use the net proceeds from this offering for general corporate purposes, including working capital, operating expenses and capital expenditures,” said the company in the filing. “We may also use a portion of the net proceeds to acquire, invest in or obtain rights to complementary technologies, products, services or businesses.”

With 416,000 active buyers from approximately 60 countries in 2018, The RealReal stated in the SEC documents that more than 80 percent of its gross merchandise volume was traced to repeat buyers. Over the same year, The RealReal says that it has processed up to 14,000 SKUs per day.