Resale technology specialist Archive preps global expansion as it bags $30m in Series B funding

Archive, a technology company that powers resale businesses for the likes of The North Face, Oscar de la Renta, New Balance and Dr. Martens, has secured $30 million in a Series B round, led by Energize Capital, bringing its total funding to date to $54 million.

Other participants included returning investors Lightspeed Venture Partners, Bain Capital Ventures, G9 Ventures and Capital F, as well as new backers Woodline Partners LP and Frontline Growth. The company also announced that Eileen Waris, Principal at Energize Capital, will join the Archive board of directors.

It will use the new funding to further develop its resale intelligence software, accelerate its global expansion, and invest in new product innovation and services.

“Resale has proven wildly popular with consumers and a significant and profitable growth opportunity for brands, allowing them to drive sales, customer loyalty and sustainability at the same time,” says Emily Gittins, Co-founder and CEO at Archive.

“We’re extremely pleased to partner with this prestigious group of investors as we help brands launch and scale resale channels that strengthen their business. This new investment will allow us to continue to lead through innovation and to add top engineering talent and resale industry experts to our team to support our growing global footprint.”

“We have been closely tracking trends in resale markets and the circular economy for years. Over the past decade, the retail industry has undergone massive, enduring changes driven by generational shifts in consumer preferences towards more sustainable options,” says Waris.

“Archive’s software capitalises on this shift and enables brands to own a bigger slice of the resale pie, all while supporting profitability and sustainability goals. We are thrilled to partner with the Archive team and support them through this next phase of growth.”

2024 RTIH INNOVATION AWARDS

The circular economy was a key focus area at the sixth edition of the RTIH Innovation Awards.

The awards celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering.