Gazelle, a Boston, MA-based “reCommerce” service committed to providing a way for consumers to get cash for selling electronics or to recycle them, announced a $12m series C round of investment.
The round is led by Physic Ventures, with participation from existing investors Venrock Associates and RockPort Capital.
The new funds will allow the company to focus on scaling its business infrastructure, make additional investments in key areas including its proprietary pricing technologies and processes.
Gazelle will also work with existing retail partners – including walmart.com, Sears, Kmart, Office Depot, and Costco – to build an in-store experience that brings its reCommerce model to physical retailer sites across the nation.
Gazelle, a service of Second Rotation, Inc., has been used by more than 80,000 consumers to date.