The company will use the funds to fuel its expansion, after signing partnerships with brands including Mara Hoffman, Frye, La Ligne and Re/Done.
Recurate was launched in February of 2020 by former Gap Inc. executive Wilson Griffin and former Retail Industry Leaders Associations executive Adam Siegel. It helps brands integrate resale into their websites, allowing them to operate their own peer-to-peer marketplaces and offer users store credit or cash in exchange for sales. Similar to other resale sites, sellers upload photos and a description of the product, which is then verified by the company and listed on the site.
Interest in such services are growing, as resale gains traction. Gradient Ventures led the seed round.