Resale tech company Archive secures eight million dollar funding

Archive, a resale technology company that develops second-hand marketplaces for brands, has secured an eight million dollar funding to aid in its growth and take it into its next phase.

The firm centres around offering companies a full operating system to power their own resale platforms, providing customisable marketplaces that customers can buy and sell goods through.

The round was co-led by Lightspeed Venture Partners and Bain Capital Ventures, bringing Archive’s total funding to nearly 10 million dollars.

The financing will fuel the company’s growth, accelerating its customs integrations, adding physical touchpoints, providing warehouse solutions and scaling the engineering teams.

Further participants in the funding also included Oscar de la Renta CEO Alex Bolen, former president of Saks Fifth Avenue Marigay McKee and co-founder of Zola Shan Lyn-Ma.

Archive has driven the debut resale sites of Filippa K, The North Face and, most recently, Oscar de la Renta. Each site aims to mirror the brand’s own identity and creative vision, allowing for a seamless customer experience.

In a release, Bolen stated: “We believe that resale will be a key driver for both acquisition and retention of our customers for the foreseeable future. As such, developing a robust resale experience that is consistent with the existing world of Oscar de la Renta has been a strategic imperative.”