Trove operates a proprietary Recommerce Operating System that enables brands and retailers to run branded resale and trade-in programs, including single-SKU identification, condition grading, site build, analytics, and logistics. The company powers resale programs for brands such as Canada Goose, Carhartt, lululemon, Patagonia, REI, Levi’s, Arc’teryx, and Allbirds, and Trove-powered resale sites account for more than 60% of branded resale traffic in North America (Second Measure). Trove combines owned and partner-operated logistics through its ReWarehouse and Trove-powered facilities, currently operating five facilities across North America with further expansion planned. Since inception Trove has raised over $150 million; its platform has saved three million kilograms of CO2 and the company projects to resell tens of millions of items by 2025. Trove plans to use new capital to expand into additional brands and verticals and to grow its Recommerce Powered facilities to meet surging demand. The company positions itself to capture growth in a resale market that is expanding faster than retail and is expected to represent a larger share of retail by 2030. Trove builds white-label technology and end-to-end operations enabling brands to run their own resale marketplaces, powering circular shopping for premium brands such as lululemon, Patagonia, REI, Nordstrom, Levi’s, Eileen Fisher and Arc’teryx. The company provides the platform and logistics to let brands own trade-in and resale channels, customer data, and brand experience while driving sustainability. Trove processed nearly 1 million unique items in 2020 and managed over 10 million catalog records, triple the number in 2019. It recently joined the Ellen MacArthur Foundation network. Trove plans to use new capital to expand its roster of brand partners, strengthen technology and logistics infrastructure, enter the luxury vertical, and serve customers in Europe. The company is headquartered in Brisbane, Calif., and has raised $122.5 million to date.

Total raised

$108M

Funding rounds

2

Latest round

Series E

Latest activity

Aug 2023