Archive, a technology company that powers profitable resale businesses for brands, today announced it has secured $30 million in Series B funding, led by Energize Capital. This brings 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 investors Woodline Partners LP and Frontline Growth. The company also announced that Eileen Waris (Principal at Energize Capital) will join the Archive board of directors.
Archive will use this new funding round to develop its resale intelligence software further, accelerate its global expansion, and invest in new product innovation and services to drive profitability for brands across a growing array of retail categories, such as apparel, footwear, accessories, home goods, furniture, toys, electronics, and outdoor gear.
The consumer demand for resale shopping options continues to surge globally, with the secondhand apparel market generating hundreds of billions of dollars over the next few years. And a large percentage of Gen Z’s closet is already secondhand, and this consumer segment is expected to continue to drive growth in the fashion resale space.
Archive has shown resale is a scalable business channel that has unlocked new, profitable revenue for brands. And the company’s brand partners are setting aggressive revenue targets for the model in the coming years, with executives estimating that resale will account for 10% or more of revenue.
Archive’s resale intelligence software enables brands to sell secondhand items at higher margins than full-price and it allows brands to reclaim supply through multiple channels, including returns, past seasons’ inventory, consumer listings, and in-store trade-in. And resale offerings also attract new and younger customers looking to purchase items at a lower price point and extend the lifecycle of products.
Launched with a mission to reduce the environmental impact of retail and keep products in use for as long as possible, Archive works closely with brands to create resale programs tailored to their business needs and supports a comprehensive suite of circular models, including peer-to-peer, trade-in, returns management and more. And the company has integrated its platform with leading global logistics companies, which leverage Archive’s unique warehouse management software to enable the best economics for brands.
Archive has seen strong momentum in the past year, launching partnerships with New Balance, Fjällräven and Dr. Martens, among others, in addition to expanding existing resale programs with The North Face, DVF, Faherty, M.M.LaFleur, etc. Amd Archive was founded by Emily Gittins and Ryan Rowe in 2021, and now supports more than 50 brands across 10 countries, including the US, Canada, the UK, France, Spain, the Netherlands and several Nordic nations.
KEY QUOTES:
“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. 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.”
- Emily Gittins, Co-founder and CEO of Archive
“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. Archive’s software capitalizes 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.”
- Eileen Waris, Principal at Energize Capital and a member of Archive’s board of directors
