Arrive Recommerce, a Santa Monica, CA-based resale technology company that empowers “Returns to Recommerce™” for brands and retailers, raised $16M in Series A funding.
The round, which brought the total amount to $25M, was led by Javelin Venture Partners and Climatic VC, with participation from other funds including Maersk Growth, Sidekick VC, Cosmic Venture Partners, 444 Capital, Freestyle VC, Animo VC, Banana Capital, Alpaca VC, Regeneration VC, and Wedbush Ventures.
The company intends to use the funds to expand the platform to more brands and operators.
Co-founded by Rachelle Snyder and Ross Richmond, Arrive Recommerce specializes in resale market with a profitable, sustainable and scalable branded resale channel. Returns to Recommerce™ focuses on turning a cost center into a profit center by helping brands and retailers divert products such as non-new returns, excess inventory, and damaged inventory into a fully-branded revenue generating resale channel. Recommence Management Technology, Recommerce Storefront Technology and Analytical Tools allow brands to drive more revenue, more customers and improve operational efficiency.
Arrive collaborates with companies in adjacent verticals such as returns management, logistics, and ecommerce enablement to increase margin and value for brands.
Additionally, Arrive Recommerce is announcing the launch of the Arrive Recommerce Operators Consortium, a group of top operators and retailers interested in recommerce. Maersk, DHL Supply Chain, SCI, Ryder System, Inc, and others have joined the consortium, which will help promote and expand the use of recommerce management technology worldwide.
FinSMEs
17/07/2023