Resale tech platform Trove reported it raised $30 million in a Series E funding round, bringing its total funding to over $150 million. The new funding was co-led by Wellington Management and ArcTern Ventures, with participation from Mitsui Fudosan’s CVC Fund, G2 Venture Partners, Prelude Ventures, and other existing Trove investors.
Trove, which partners with brands and retailers to support their resale programs, intends to use the infusion of capital to fuel expansion and to grow its Recommerce Powered facilities to meet the demand for its branded resale solutions.
The funding round follows Trove’s international expansion, with five facilities in North America and projected continued growth through logistics partners and its owned and operated ReWarehouse. According to Second Measure, Trove-powered resale sites account for more than 60 percent of all branded resale traffic in North America.
In the active outdoor space, Trove’s partners include Canada Goose, Carhartt, Lululemon, Patagonia, REI, Levi’s, Arc’teryx, Brooks, and Allbirds.
