Trove, a Brisbane, CA-based branded recommerce company, raised $77.5M in Series D funding.
The round, which brought Trove’s total funding to date to $122.5m, was led by G2 Venture Partners with participation from Bank of Montreal, Capital One Ventures, Commerce Ventures and Wellington Management.
The company intends to use the funds to expand its roster of brand partners, strengthen its technology and logistics infrastructure, enter the luxury vertical, and service a new customer audience in Europe.
Led by Andy Ruben, CEO, Trove provides white-label technology and end-to-end operations platform for premium brands to take back items from customers’ closets while maintaining control of their brand equity and owning their customer experience, data and relationships.
The company currently serves brands such as lululemon, Patagonia, REI, Nordstrom, Levi’s, Eileen Fisher and Arc’teryx.
Trove recently joined the Ellen MacArthur Foundation network, which supports businesses that promote a circular economy across three sustainability principles, designing out waste and pollution, keeping products and materials in use, and regenerating natural systems.