Trove Raises $30M in Series E Funding — Retail Bum

Branded resale solution provider Trove has raised $30 million in Series E funding, bringing the total amount raised by the firm to $150 million.

The investment round was led by Wellington Management and ArcTern Ventures, and it saw participation from Mitsui Fudosan’s CVC Fund, G2 Venture Partners, Prelude Ventures, and Trove’s existing investors.

The California-based company, which powers resale for brands such as Arc’teryx, Canada Goose, Levi’s, Patagonia, and REI, among others, plans to use the funding to further grow its expansion efforts with new brand partnerships across different verticals and develop its Trove Recommerce Powered facilities. Trove-powered merchant resale sites already account for over 60% of branded resale traffic in the U.S. and Canada.

“For over a decade, Trove has been the pioneer behind leading resale programs,” said Trove CEO Gayle Tait. “We equip brands to own their resale experience and engage with new and existing customers. This is only possible through our proprietary technology and unparalleled warehouse and logistics capabilities. Now, our accelerating scale and flexibility means we can deliver more impact across categories and markets, keeping millions of quality items in circulation.”