Recurate, Inc., an Arlington, VA-based technology company that allows customers to sell their used items directly on their favorite brand’s site, raised $3.25m in seed funding.
The round was led by Gradient Ventures with participation from Rise of the Rest, part of Revolution’s Rise of the Rest Seed Funds and Third Kind Ventures.
The company intends to use the funds to continue to expand operations and its business reach.
Founded in 2020 by CEO Adam Siegel and COO Wilson Griffin, Recurate is a circular economy technology company that offers brands an ecommerce solution to capture their secondhand sales. It enables an integrated peer-to-peer marketplace on brands’ ecommerce stores, allowing their customers to resell items they previously purchased from those brands. Recurate works with fashion, outdoor gear, electronics, and equipment brand companies.
The company has just partnered with La Ligne, Mara Hoffman, and Peak Design.