Archive Secures $30 Million Series B Funding for Resale Innovations

Archive, a resale technology company, has secured $30 million in Series B funding, bringing its total funding to $54 million. The investment, led by Energize Capital with participation from returning and new investors, will be used to enhance Archive's resale intelligence software, expand globally, and innovate product offerings. Archive's platform enables brands to profitably sell secondhand goods, tapping into the growing secondhand market, which is projected to reach $350 billion in the coming years. The company currently partners with over 50 brands, including New Balance and The North Face, and reports that resale could soon account for a significant portion of their sales revenue. Archive's co-founder, Emily Gittins, emphasized the opportunity for brands to drive customer loyalty and sustainability through resale channels. The competitive landscape is heating up as more brands seek to establish their resale capabilities amidst rising consumer demand for secondhand products.