Resale Tech Specialist Archive Preps Global Expansion
Archive will use the new funding to further develop its resale intelligence software, accelerate its global expansion, and invest in new product innovation and services.
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Archive, a technology company that powers resale businesses for the likes of The North Face, Oscar de la Renta, New Balance and Dr. Martens, has secured $30 million in a Series B round, led by Energize Capital, bringing its total funding to date to $54 million.
Other participants included returning investors Lightspeed Venture Partners, Bain Capital Ventures, G9 Ventures and Capital F, as well as new backers Woodline Partners LP and Frontline Growth. The company also announced that Eileen Waris, Principal at Energize Capital, will join the Archive board of directors.
It will use the new funding to further develop its resale intelligence software, accelerate its global expansion, and invest in new product innovation and services.
“Resale has proven wildly popular with consumers and a significant and profitable growth opportunity for brands, allowing them to drive sales, customer loyalty and sustainability at the same time,” said Emily Gittins, Co-founder and CEO at Archive.
“We’re extremely pleased to partner with this prestigious group of investors as we help brands launch and scale resale channels that strengthen their business. This new investment will allow us to continue to lead through innovation and to add top engineering talent and resale industry experts to our team to support our growing global footprint.”
“We have been closely tracking trends in resale markets and the circular economy for years. Over the past decade, the retail industry has undergone massive, enduring changes driven by generational shifts in consumer preferences towards more sustainable options,” said Waris.
“Archive’s software capitalises on this shift and enables brands to own a bigger slice of the resale pie, all while supporting profitability and sustainability goals. We are thrilled to partner with the Archive team and support them through this next phase of growth.”
