Arrive Recommerce, Inc. Raises $16M in Series A Funding to Expand Its Platform to More Brands and 3PLs
Arrive Recommerce, Inc., the technology company that powers Returns to Recommerce™ for brands and retailers, announced today that it has raised $16M in Series A funding. The funding will be used to expand the platform to more brands and operators as Arrive Recommerce continues to grow in the booming recommerce industry.
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.
A sophisticated recommerce solution is becoming an essential component 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 Series A funding 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. The total funding for the company now stands at $25.1M.
Arrive Recommerce is leading the 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 direct their products such as non-new returns, excess inventory, and damaged inventory into a fully-branded revenue generating resale channel.
Arrive Recommerce powers recommerce for brands and retailers ranging in size and industry and is live with brands offering apparel, outdoor products, and hard goods. Arrive continues to expand with additional brand, retail, and operator partners in 2023. The company recently launched a partnership with YETI to offer their non-new returned products for resale (YETI.Rescues.com).
"Recommerce should be a core pillar of a brand or retailer's strategy," says Rachelle Snyder, CEO & Co-founder of Arrive Recommerce. "Our investors and brand partners share our enthusiasm about the evolution of this space, and this funding will allow us to expand our platform, continuing to lead this space with innovation and brand protection."
"Recommerce is a trend that is exploding with demand from both the brand and consumer side. By providing a profitable sustainable program with our returns based resale offering we have hit a sweet spot in the market," says Ross Richmond, COO and Co-founder. "It's great to be solving a problem that brands have been unable to solve effectively to date and create an opportunity for consumers to buy like-new products directly from the brands they love."
Jed Katz, Managing Director at Javelin Venture Partners, said, "We are excited to co-lead this round and support Arrive Recommerce in their mission to power the recommerce industry. The growth around recommerce is undeniable, and Arrive's technology is at the forefront of this trend."
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. Recommerce is becoming a staple of every brand and retailer's product offering.
"Arrive's focus on sustainability and technology that enables brands to reduce waste and drive profitability aligns with the growing importance of resale and sustainability in today's market. 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," said Josh Felser, Partner at Climatic VC.
Arrive Recommerce has also garnered the attention of and established relationships with operators and logistics partners as Arrive's Recommerce Management Technology allows them to easily implement and launch recommerce to their existing brand and retailer clients.
"As a company committed to sustainability and responsible business practices, Maersk Growth is proud to invest in Arrive Recommerce's mission to reduce waste. Arrive's technology offers a profitable solution for brands to manage their non-new returns while also reducing their environmental impact. By supporting Arrive Recommerce, we are driving innovation and positive change in the retail industry," said Peter V Jorgensen, Partner at Maersk Growth.
For more information, please visit https://thearriveplatform.com/.