Recurate Raises $14 Million! Plus, Our Plans for Future Growth
Since Recurate was founded in 2020, our team has been working tirelessly to bring our shared vision to life: to make resale easy for everyone to participate. We’ve grown immensely in the past two years, and we’re about to grow even more.
Recurate just raised $14 million in our Series A round of funding, led by Jump Capital, with additional support from industry leaders Gradient Ventures, XRC Labs, and Victress Capital.
We are honored to have their support. And we are beyond excited for what’s to come!
Where It All Began: Making Resale Easy
As they say, it’s all about timing. Adam Siegel and Wilson Griffin, each with over a decade of experience in retail sustainability, got together and launched Recurate at exactly the right time. What started as an idea led to a movement that would change retail forever — for the better.
Recurate provides the technology and support brands need to launch their own resale channel directly on their e-commerce platform. The benefits of branded resale are numerous, including driving revenue, building community, and furthering sustainability initiatives. On the customer side, Recurate’s seamless tech integration makes for an easy buying and selling experience, all within a brand’s ecosystem. Plus, it’s better for the planet to keep products in circulation at their highest value for longer. Resale benefits everyone.
Non-Stop Growth Since Day One
Recurate works with nearly 50 brands across categories — from clothing to footwear to accessories — including Steve Madden, Frye, Mara Hoffman, Outerknown, Peak Design, and Another Tomorrow. Many of our brands opt for a peer-to-peer resale model, which allows customers to list and sell products through their order history. Several others have take-back programs for brands that require additional authentication (take-back vs. peer-to-peer). During implementation, we work closely with every brand partner to get the look, feel, and functionality of their resale experience just right.
Every brand is different and requires a unique level of customization that suits its product line and community. For example, we implemented geofencing for Peak Design so that buyers in one region are only served local listings in order to facilitate the most efficient exchanges. Another Tomorrow products have Digital ID codes, so our team helped integrate this new functionality across their user experience and behind-the-scenes operations. And finally, we worked with La Ligne to add an interactive bidding functionality to their resale channel to support a live auction fundraiser that was a huge success (learn more about these resale innovations). We love exploring creative ideas and supporting our brands as they do resale their own way.
Where We’re Going: The Sky’s the Limit
Sustainability is not always synonymous with profitability, which makes it a tricky sector to invest in. But resale is an anomaly. It’s a huge market that’s positioned for growth. We’re excited to help brands tap into the revenue-driving power of resale while simultaneously doing what’s best for the planet.
Thanks to this fresh influx of support and because of the expanding interest in our services, we anticipate we’ll be working with 100 brands by end of the year! This investment will help us grow our team, expand our technology services (think: digital ID and NFTs), and deliver an enterprise suite of support for our brand partners, including:
- Data Analytics: Robust data solutions for customer and product insights.
- Inventory Solutions: Further enabling brands to monetize their returned and unsold inventory.
- Connected Products: Continued authentication and listing simplification with digital ID integrations.
- Sustainability: Accurately measuring environmental impact for each brand and product category.
- Advanced Merchandising: Enhancing resale capabilities to support in-store, auction, vintage, and curated shops.
- Image-Based Product Recognition: Reducing the barrier to listing products for brands and individual sellers.
“Recurate was founded to easily and seamlessly integrate resale into every commerce experience, increasing our brands’ sustainability, customer loyalty, and revenue. We’ve already rolled out integrations with e-commerce platforms, loyalty programs, fulfillment/logistics providers, and digital ID technologies. With this investment, we are excited to bring even more innovative solutions to brands so they can benefit from the explosion of interest in resale.” — Adam Siegel, Co-Founder & CEO
Our World-Class Team Is Growing
We have built an incredibly talented, driven, and diverse team. As we gear up for growth, keep an eye out for a position that’s right for you. Join us in redefining the future of retail. See open positions here.
To learn more about Recurate, our team, and the brands embracing resale, visit recurate.com.