We are proud to announce the close of our $15 million Series A, bringing our total funding to over $24 million. The round is led by Lightspeed Venture Partners with participation from Bain Capital Ventures and several minority investors.
Since 2020, our resale operating system has enabled brands to launch customized circularity programs that are built to scale and meet each company’s unique business and sustainability goals. This latest round of funding will allow us to grow our team to accommodate increasing demand to enter the recommerce market, and to continue to provide best-in-class technology and support to our brand partners. Additionally, this financing will allow us to accelerate launches across North America and Europe, as we push forward towards our mission to reduce overproduction in the retail industry by extending the lifecycle of products and making resale an accessible and profitable business model.
“We’re building a future where circular business models are standard for every brand and a serious revenue driver,” our Co-Founder and CEO Emily Gittins told TechCrunch. “The customer response to Archive’s resale experiences has been extraordinary. This new funding will allow us to more rapidly help the world’s most innovative brands launch circular models and shape the future of retail.”
Thank you to all of our investors for believing in a new future for retail, including those from industry leaders Julie Bornstein, Chief Shopping Officer at Pinterest and Founder of The Yes, Kerry Cooper, former President of Rothy’s, Adrienne Lazarus, CEO of Frye and Bandier, Lisa Bougie, former Stitch Fix C-Suite Executive and Nike General Manager, Wendy Yang, former President of Hoka, Dawn Dobras, former CEO of Credo Beauty, and Marigay McKee, former President of Saks Fifth Avenue and Co-founder of Fernbrook Capital Management.
Join us in our mission to change consumer behavior and reduce overproduction. Check out our career page to see all open roles.