Archive, a San Francisco, CA-based tech company building the resale operating system for brands, today announced a $15 million Series A funding.
The round is led by Lightspeed Venture Partners, with participation from Bain Capital Ventures, Fernbrook Capital, G9 Ventures, and several minority investors, and brings Archive’s total funding to over $24 million.
In addition to its venture capital backers, Archive received investments from industry leaders Julie Bornstein, (Chief Shopping Officer at Pinterest and Founder of The Yes), Kerry Cooper, (former President of Rothy’s), Adrienne Lazarus, (former CEO of Frye and Bandier), Lisa Bougie, (former GM at Stitch Fix and Nike), 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).
The funding will immediately support hiring across engineering and brand success teams to help Archive continue to innovate and scale its technology and integrations. It will also enable Archive to meet the increasing demand from brands to incorporate resale into their businesses, and accelerate upcoming launches across North America and Europe.
“We’re building a future where circular business models are standard for every brand and a serious revenue driver,” said Emily Gittins, Co-Founder, and CEO of 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 is focused on helping brands generate revenue without new production. Archive’s resale experiences have proven that offering resale increases customer engagement drives up a customer’s lifetime value, and leads to new customer acquisition.
In addition to the raise, Alex Taussig, a partner at Lightspeed, will join the company’s Board of Directors.
Company: Archive Resale Inc.
Raised: $15.0M
Round: Series A
Funding Month: December 2022
Lead Investors: Lightspeed Venture Partners
Additional Investors: Bain Capital Ventures, Fernbrook Capital, and G9 Ventures, Julie Bornstein, Kerry Cooper, Adrienne Lazarus, Lisa Bougie, Wendy Yang, Dawn Dobras, and Marigay McKee
Company Website: https://www.archiveresale.co/
Software Category: Resale Software
About the Company: Launched in February 2021 by co-founders Emily Gittins and Ryan Rowe, Archive is a resale technology company that builds highly differentiated resale software for brands. Archive is known for building highly differentiated resale programs that seamlessly integrate with a company’s consumer experience. The platform enables brands to deliver a consistent, premium experience for customers across all markets and channels (physical and digital) and access real-time data on sales, sell-through, conversion, CRM performance, and more. The comprehensive tech allows brands to easily incorporate resale into their business to increase customer loyalty and drive new revenue without increasing production. Archive currently powers resale programs for leading fashion and apparel brands including The North Face, Sandro, Marimekko, M.M.LaFleur, Filippa K., Djerf Avenue, Pas Normal, Dagne Dover, Oscar de la Renta, Cuyana, more. Archive was named one of the top 50 Most Promising Startups in 2022 by The Information and has been featured in leading publications including TechCrunch, Bloomberg, Forbes, Business of Fashion, Vogue Business, and WWD. The company’s ultimate mission is to move the retail industry toward less production by extending the lifecycle of products and making resale an option for everyone.
Source: Jamie Madrid, Consulting LLC