Archive raises $15m Series A to scale resale technology and integrations
Resale technology startup Archive has announced a $15 million Series A fundraise led by Lightspeed Venture Partners with participation from Bain Capital Ventures and several minority investors.
This brings the firm’s total funding to over $24 million. In addition to the raise, Alex Taussig, Partner at Lightspeed, will join the company’s board of directors.
This fresh instalment of capital will support hiring across engineering and brand success teams to help Archive continue to scale its technology and integrations, and accelerate upcoming launches across North America and Europe.
“Resale is a massive online category already and growing three times as fast as new apparel sales,” says Taussig.
“Archive has become the standard of choice for well known brands from Oscar de la Renta to The North Face, that want to embed resale into their supply chain. They have quickly built the best in class solution to integrate resale across all shopping channels and distribution operations.”
“Lightspeed was fortunate to co-lead Archive's Seed round earlier this year, and we're delighted to deepen our partnership and lead the company's Series A.”
“We’re building a future where circular business models are standard for every brand and a serious revenue driver,” says Emily Gittins, Co-Founder and CEO at Archive.
“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.”
Archive, which launched in February 2021, is currently live with such brands as The North Face (Renewed Marketplace), Oscar de la Renta (Encore), Cuyana (Revive), Marimekko (Pre-loved), Dagne Dover (Almost Vintage), Sandro (Sandro Secondhand), 3.1 Phillip Lim (3.1 Archive), M.M. LaFleur (Second Act), and Filippa K. (Preowned).
In addition to its venture capital backers, Archive received investments from Julie Bornstein, Chief Shopping Officer at Pinterest and Founder of The Yes, Kerry Cooper, former President at Rothy’s, Adrienne Lazarus, former CEO at Frye and Bandier.
Lisa Bougie, former Stitch Fix C-Suite Executive and Nike General Manager, Wendy Yang, former President at Hoka, Dawn Dobras, former CEO at Credo Beauty, and Marigay McKee, former President at Saks Fifth Avenue and Co-founder of Fernbrook Capital Management.
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