# Trove Recommerce

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/trove-recommerce

- Industry: Internet
- Headquarters: Brisbane, US
- Website: www.trove.com
- Total disclosed funding: $153M
- Latest round: Series E (Jul 28, 2023)
- Investors on record: 18

## About

Trove Recommerce, Inc. is a US-based company specializing in sustainable recommerce solutions that enable retail brands to implement effective resale programs while enhancing profitability and environmental responsibility.Founded in 2012 and headquartered in Brisbane, US, Trove Recommerce, Inc. offers a unique platform for retail brands to participate in the circular economy through effective resale strategies. The company has raised funding through various rounds, with the latest being a Series E round in which they secured USD 29.34 mn from notable investors including ArcTern Ventures and Mitsui Fudosan. Trove has completed a total of 9 deals since its inception, and its current valuation stands at USD 136.99 mn. The leadership team includes CEO Andy Ruben, who has a history of founding and managing other innovative companies.Trove specializes in providing comprehensive recommerce solutions aimed at integrating sustainability within the retail landscape. Their core offerings include a configurable platform that enables brands to implement resale programs effectively, enhancing brand sustainability while driving profitability. The service is designed for scalability, catering to various brands across North America, the UK, and Europe. Trove's solution encompasses digital and in-store trade-in options, resale logistics through their proprietary Recommerce Warehouse Management System (WMS), and pricing optimization tools. The end-users of Trove's offerings are primarily retail brands seeking to engage in circular economy practices, maximize customer lifetime value (LTV), and activate existing inventory, thereby addressing the increasing consumer demand for sustainable purchasing options.Trove's revenue model is structured around partnerships with retail brands, facilitating a B2B relationship where brands leverage Trove's platform for their resale operations. Transactions typically occur as brands integrate Trove's services to manage their resale items, with Trove providing the necessary tools for logistics, inventory management, and pricing intelligence. Through this framework, brands can tap into existing inventories and initiate trade-in programs, ultimately enhancing their sustainability efforts while generating additional revenue streams. Pricing plans are customized based on the offerings and scale of the brands involved, ensuring a tailored approach to each partnership. Trove’s flagship services, including the Recommerce WMS, support a diverse array of clients aiming to capitalize on the growing trend of resale and sustainable fashion.Trove Recommerce, Inc. plans to leverage its recent funding of USD 29.34 mn to enhance its platform and expand its market presence. The company is focusing on launching new features and tools aimed at improving the resale experience by mid-2024. Additionally, Trove is exploring opportunities to enter new geographic markets, particularly targeting the Asia-Pacific region by the end of 2025. The recent investment will support these initiatives, allowing Trove to strengthen its infrastructure and develop innovative solutions for retail partners.

## Funding rounds

- Series E, Jul 28, 2023, $29M — Wellington Management, Prelude Ventures, ArcTern Ventures, G2 Venture Partners, Mitsui Fudosan
- Series D, Aug 25, 2021, $79M — Wellington Management, Commerce Ventures, BMO Capital Partners, Capital One Ventures, G2 Venture Partners
- Series C, Sep 26, 2019, $22M — Claremont Creek Ventures, Prologis, The Westly Group, Prelude Ventures, Commerce Ventures, DGNL Ventures, Three Cairns Group, Lybra
- Series B, Mar 24, 2016, $13M — Commerce Ventures, DGNL Ventures, Three Cairns Group
- Series A, Mar 25, 2015, $3M — The Westly Group, Tin Shed Ventures
- Series A, Apr 8, 2014, $6.7M — Claremont Creek Ventures, Mindful Investors, DBL Partners, The Westly Group, Prelude Trust
- Seed, Aug 27, 2013, $0.5M — The Westly Group

## Investors

- The Westly Group (https://capitalatlas.ai/funds/the-westly-group) — Seed, Series A, Series C
- Claremont Creek Ventures (https://capitalatlas.ai/funds/claremont-creek-ventures) — Series A, Series C
- Mindful Investors (https://capitalatlas.ai/funds/mindful-investors) — Series A
- DBL Partners (https://capitalatlas.ai/funds/dbl-partners) — Series A
- Prelude Trust — Series A
- Tin Shed Ventures (https://capitalatlas.ai/funds/tin-shed-ventures) — Series A
- Commerce Ventures (https://capitalatlas.ai/funds/commerce-ventures) — Series B, Series C, Series D
- DGNL Ventures (https://capitalatlas.ai/funds/dgnl-ventures) — Series B, Series C
- Three Cairns Group (https://capitalatlas.ai/funds/three-cairns-group) — Series B, Series C
- Prologis (https://capitalatlas.ai/funds/prologis) — Series C
- Prelude Ventures — Series C, Series E
- Lybra — Series C
- Wellington Management (https://capitalatlas.ai/funds/wellington-management) — Series D, Series E
- BMO Capital Partners (https://capitalatlas.ai/funds/bmo-capital-partners) — Series D
- Capital One Ventures (https://capitalatlas.ai/funds/capital-one-ventures) — Series D
- G2 Venture Partners (https://capitalatlas.ai/funds/g2-venture-partners) — Series D, Series E
- ArcTern Ventures (https://capitalatlas.ai/funds/arctern-ventures) — Series E
- Mitsui Fudosan — Series E