Tech company Archive has announced the closing of a 15 million dollar Series A fundraising, led by Lightspeed Venture Partners.
The new financing brings the company’s total funding to 24 million dollars and will see Lightspeed partner Alex Taussig join its board of directors.
The firm is dedicated to developing resale operating models for brands, with it already having created resale-based platforms for the likes of The North Face, Sandro, Oscar de la Renta and Marimekko.
In a release, Archive said the funding will support hiring across engineering and brand success teams to help continue scaling its technology and integrations.
It will further aid the company in meeting demand from brands to incorporate resale into their businesses, and accelerate upcoming launches across North America and Europe.
Speaking on Archive, Taussig said in a release that the company had become the “standard choice” for established brands looking to implement resale into their supply chain.
He added that the team have built a “best-in-class solution” to bring resale across all shopping channels and distribution operations.
Emily Gittins, co-founder and CEO of Archive, added: “We’re building a future where circular business models are standard for every brand and a serious revenue driver.
“The customer response to Archive’s resale experiences has been extraordinary. This new funding will allow us to more rapidly help the world’s most innovative brands launch circular models and shape the future of retail.”