Santa Monica-based startup, Arrive Recommerce, Inc., a technology company that facilitates Returns to Recommerce™ for brands and retailers, has successfully raised $16M in a Series A funding round. The funds will be utilized to extend the platform to more brands and operators as the company continues to grow in the thriving recommerce industry.
The recommerce industry is booming, and Arrive Recommerce is at the forefront of this trend. The company is leading the resale market with a profitable, sustainable, and scalable branded resale channel. Their focus is on transforming a cost center into a profit center by assisting brands and retailers in directing their products, such as non-new returns, excess inventory, and damaged inventory into a fully-branded revenue-generating resale channel.
In addition to the funding news, Arrive Recommerce is also launching the Arrive Recommerce Operators Consortium. This group comprises top operators and retailers interested in recommerce. Industry giants such as Maersk, DHL Supply Chain, SCI, Ryder System, Inc, and others have joined the consortium, which aims to promote and expand the use of recommerce management technology worldwide.
The Series A funding round was co-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. This brings the total funding for the company to $25.1M.
Recommerce is becoming an essential part of a brand or retailer’s ecommerce strategy and reverse logistics technology solution. Arrive’s modular and easy-to-implement Recommerce Management Technology allows brands and retailers to launch a profitable, branded, and sustainable resale channel in less than 8 weeks. The company is live with brands offering apparel, outdoor products, and hard goods and continues to expand with additional brand, retail, and operator partners.
The resale market provides a profitable new revenue stream for brands, and implementing sustainable practices will reduce waste and operational costs and help companies achieve their net-zero goals. Consumers are increasingly demanding sustainable practices from the brands they support, and investing in recommerce and sustainability can help brands meet these demands while improving their bottom line.
Arrive Recommerce is leading the way in the recommerce industry, providing a sustainable and profitable solution for brands and retailers. With the recent funding and the launch of the Arrive Recommerce Operators Consortium, the company is poised to continue its growth and innovation in the recommerce space.
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