Archive secures 30 million dollars in Series B funding round
The North Face x Archive. Credits: Archive. Resale tech company Archive has closed on a 30 million dollar Series B funding round, which will be used to further develop its resale intelligence software while accelerating global expansion and investing in new product innovations. This latest round, led by Energize Capital, brings the company’s total funding to date to 54 million dollars. Principal at Energize, Eileen Waris, will join Archive’s board of directors. Returning investors Lightspeed, G9 Ventures and Capital F were among the contributors, as were new investors Woodline Partners LP and Frontline Growth. Archive’s Series B comes as resale continues to enjoy exponential growth throughout the fashion industry, bolstered by a global surging of consumer demand that is ultimately allowing brands to drive both sales and sustainability. This was highlighted by CEO and co-founder of Archive, Emily Gittins, who added that the company was “really pleased to partner with this prestigious group of investors as we help brands launch and scale resale channels that strengthen their business”. Gittins continued: “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.” Archive has worked with the likes of The North Face, Dr. Martens and New Balance in establishing resale programmes, and has recently expanded on a number of existing relationships, underlining the importance of such initiatives in a business model. Archive said that many of its brand partners were “setting aggressive revenue targets for the model in the coming years, with executives estimating that resale will account for 10 percent or more of revenue”.
Resale tech company Archive has closed on a 30 million dollar Series B funding round, which will be used to further develop its resale intelligence software while accelerating global expansion and investing in new product innovations.
This latest round, led by Energize Capital, brings the company’s total funding to date to 54 million dollars. Principal at Energize, Eileen Waris, will join Archive’s board of directors. Returning investors Lightspeed, G9 Ventures and Capital F were among the contributors, as were new investors Woodline Partners LP and Frontline Growth.
Archive’s Series B comes as resale continues to enjoy exponential growth throughout the fashion industry, bolstered by a global surging of consumer demand that is ultimately allowing brands to drive both sales and sustainability.
This was highlighted by CEO and co-founder of Archive, Emily Gittins, who added that the company was “really pleased to partner with this prestigious group of investors as we help brands launch and scale resale channels that strengthen their business”.
Gittins continued: “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.”
Archive has worked with the likes of The North Face, Dr. Martens and New Balance in establishing resale programmes, and has recently expanded on a number of existing relationships, underlining the importance of such initiatives in a business model.
Archive said that many of its brand partners were “setting aggressive revenue targets for the model in the coming years, with executives estimating that resale will account for 10 percent or more of revenue”.
