Trove, Inc. is a technology company.
Trove, Inc. has raised $12.0M across 2 funding rounds.
Trove, Inc. has raised $12.0M in total across 2 funding rounds.
Trove, Inc. has raised $12.0M in total across 2 funding rounds.
Trove, Inc.'s investors include Grand Ventures, Hyde Park Venture Partners.
Trove, Inc. is a leading technology company specializing in branded recommerce and resale solutions for e-commerce brands. It provides a platform that enables brands to launch white-label resale channels, incorporating trade-in technology to identify, route, and credit pre-owned items, fostering circular business models that boost revenue, customer loyalty, and sustainability.[1][3][4] Serving major brands like Levi's, Patagonia, REI, lululemon, Arc'teryx, and others, Trove solves the challenge of capturing resale market value while reducing waste, with operations across North America, the UK, and Europe following acquisitions like Berlin-based Reverse.Supply.[1][3] The company has raised $150.76M in funding, reached Series E stage, and employs 201-500 people, generating approximately $51.7M in revenue, with Gayle Tait recently promoted to CEO.[1][3]
Trove was founded in 2016 (originally as Yerdle) in Brisbane, California, evolving from a focus on secondhand marketplaces to branded resale infrastructure.[1][3] Key early traction came from partnering with prominent apparel and outdoor brands seeking to control their resale channels amid rising consumer demand for sustainability. Pivotal moments include raising $29.34M in its last round two years ago, expanding globally via the acquisition of Reverse.Supply in 2021—which integrated its team and enhanced trade-in, returns, P2P, and repair services—and promoting Gayle Tait from President to CEO to lead further growth.[1][3]
(Note: A separate entity, Trove Technologies, Inc., focuses on AI for financial services but matches neither the query's e-commerce emphasis nor the Brisbane HQ and funding profile.[2])
Trove rides the circular economy and recommerce wave, capitalizing on e-commerce's shift toward sustainability amid consumer preferences for secondhand goods and regulatory pressures for reduced waste. Timing aligns with post-pandemic resale market growth (projected to hit $350B+ globally) and brands' ESG mandates, where Trove's solutions help capture 20-30% margins on resale versus new inventory costs.[1][3][4] Market forces like returns overload (up to 30% in apparel) and loyalty demands favor its reverse logistics and trade-in tools. Trove influences the ecosystem by pioneering brand-owned resale, inspiring competitors like Loop and Reflaunt, and accelerating industry adoption of circular models.[1]
Trove is poised for accelerated expansion in Europe and beyond, leveraging its Series E momentum, recent leadership, and acquisition synergies to dominate Recommerce-as-a-Service. Trends like AI-enhanced personalization in resale, stricter ESG reporting, and omnichannel retail will propel growth, potentially pushing toward IPO or further M&A. As the market leader in branded resale, Trove will deepen its role in profitable sustainability, transforming e-commerce waste into revenue loops that redefine brand loyalty.[1][3][4]
Trove, Inc. has raised $12.0M across 2 funding rounds. Most recently, it raised $10.0M Series A in October 2016.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2016 | $10.0M Series A | Grand Ventures, Hyde Park Venture Partners | |
| Jul 1, 2015 | $2.0M Seed | Grand Ventures, Hyde Park Venture Partners |