GoodBuy Gear – a leading online resale marketplace for baby and kid gear – announced a total of $14M in funding co-led by Interlock Partners and existing investor Revolution Ventures. The female-founded-and-led startup also received new funding from Crawley Ventures, Mana Ventures, Access Ventures, Relay Ventures, and Denver Angels. The funding will enable GoodBuy Gear to further scale its online marketplace and solidify its position as a leading and trustworthy baby and kid resale brand.
GoodBuy Gear essentially enables parents, brands, and retailers to safely and sustainably recirculate quality-used baby & kid products. And the industry leader continues to grow its addressable market and deepen its penetration through expansions in product verticals, geographies, and partnerships. During the first months of this year, GoodBuy Gear expanded to sell pre-owned, quality-inspected car seats—a first in the industry—and doubled the company’s base of brand and retail partners.
GoodBuy Gear’s Series A investors were also inspired by the brand’s traction and growth, accompanied by strong fundamentals, and chose to up the ante this year, including Revolution Ventures who is now co-leading the series alongside Interlock VC.
GoodBuy Gear has sold over 270,000 secondhand items and has helped over 12,000 families resell their used items to date. And GoodBuy Gear currently offers white glove selling services in Denver, Philadelphia, Washington D.C. New York City and each city’s surrounding metro areas as well as nationwide shopping and shipping, enabling parents to save an average of 50% off retail. Since 2018, GoodBuy Gear has grown an average of 186% year over year.
KEY QUOTES:
“Parents in the United States spend $87 billion on baby and kid gear every year, and most of those products are hardly used. In fact 83% of the inventory on our marketplace is never or barely used before it’s listed for resale—that’s the massive opportunity GoodBuy Gear was founded to solve. With this funding, we are able to accelerate our pace in addressing the entirety of this substantial market.”
— CEO and co-founder Kristin Langenfeld
“Interlock is impressed with the rapid growth in demand for resale solutions in this space—from parents, brands, and retailers—and the monumental traction GoodBuy Gear has consistently achieved within all three verticals. We are confident in GoodBuy Gear’s promise and capacity to lead here.”
— Carl Sparks, Managing Partner at Interlock; Sparks previously served as CEO of Academic Partnerships, CEO of Travelocity Global, President of Gilt Groupe and CMO of Expedia and has joined GoodBuy Gear’s board of directors.
“Trusted by retailers, brands, and parents alike, Goodbuy Gear has quickly become the go-to marketplace for sustainable and price-accessible baby and kids’ gear. We remain proud partners of Kristin and the team as they continue to scale this must-have solution for parents that solves the re-commerce imperative for retailers and brands.”
— Clara Sieg, Partner at Revolution Ventures
