Cirularity tech startup Archive announced that it has raised $30 million in a Series B funding round, with proceeds aimed at advancing its platform that helps brands resell their merchandise.

Established in 2021 with a mission to reduce the environmental impact of retail and keep products in use for as long as possible, California-based Archive works with brands on developing and managing resale programs. According to the company, its software enables brands to sell secondhand items at higher margins than full price items, and allows brands to reclaim supply through multiple channels, including returns, past seasons’ inventory, consumer listings and in-store trade-ins.

Archive added that it works closely with brands to create resale programs uniquely tailored to their needs and supports a comprehensive suite of circular models, including peer-to-peer, trade-in, returns management and more. The company has also integrated its platform with leading global logistics companies.  Among the more than 50 brands Archive works with globally are The North Face, Oscar de la Renta, New Balance and Dr. Martens.

Archive said that it will use the new funding to further develop its resale intelligence software, accelerate its global expansion, and invest in new product innovation and services for retail brands in apparel, footwear, accessories, home goods, furniture, toys, electronics, outdoor gear and other categories.

According to the company, the financing comes as consumer demand for resale shopping options continues to surge globally, with the secondhand apparel market reaching $230 billion in 2024, and projected to grow to nearly $350 billion by the end of 2028, according to a study by GlobalData. Industry studies show that 40% of Gen Z’s apparel is already secondhand, and this consumer segment is expected to continue to drive growth in the fashion resale space.

Emily Gittins, Co-founder and CEO of Archive, said:

“Resale has proven wildly popular with consumers and a significant and profitable growth opportunity for brands, allowing them to drive sales, customer loyalty and sustainability at the same time. We’re extremely pleased to partner with this prestigious group of investors as we help brands launch and scale resale channels that strengthen their business.”

The round, which brings Archive’s total funding to date to $54 million, was led by Energize, with participation form returning investors Lightspeed Venture Partners, Bain Capital Ventures, G9 Ventures and Capital F, as well as new investors Woodline Partners LP and Frontline Growth.

Archive also announced that Eileen Waris, Principal at Energize Capital, will join its board of directors. Waris said:

“We have been closely tracking trends in resale markets and the circular economy for years. Over the past decade, the retail industry has undergone massive, enduring changes driven by generational shifts in consumer preferences towards more sustainable options. Archive’s software capitalizes on this shift and enables brands to own a bigger slice of the resale pie, all while supporting profitability and sustainability goals. We are thrilled to partner with the Archive team and support them through this next phase of growth.”