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About Trove
Industries
Consumer Software
AI & Machine Learning
Consumer Goods
Company Size
51-200
Company Stage
Series E
Total Funding
$144M
Headquarters
Brisbane, California
Founded
2012
Overview
Trove provides technology solutions that enable brands to create their own resale platforms for second-hand retail. Their system utilizes computer vision and machine learning to identify, price, and relist pre-owned items, ensuring they are sold at optimal prices. This technology helps brands enhance customer loyalty by offering trade-in options for used items, allowing customers to receive store credit and encouraging repeat purchases. Trove's unique business model includes a customizable resale storefront that integrates with existing brand channels, facilitating a smooth customer experience from buying new products to trading in used ones. Notable brands like Arc’teryx, Patagonia, and lululemon have successfully implemented Trove's technology, expanding their reach in the growing second-hand market.
Simplify's Take
What believers are saying
- Trove's acquisition of Recurate expands its resale platform with peer-to-peer solutions.
- Trove commands over 75% of branded resale traffic in the U.S.
- High-profile brands like Patagonia and lululemon use Trove's technology, indicating strong market presence.
What critics are saying
- Emerging resale platforms could threaten Trove's market share with innovative features.
- AI and machine learning integration challenges may affect Trove's competitive edge.
- Acquisitions like Recurate may lead to integration challenges and cultural clashes.
What makes Trove unique
- Trove uses AI to enhance professional relationships and network insights.
- Trove's resale platform integrates computer vision and machine learning for optimal item pricing.
- Trove offers a branded resale storefront, enhancing customer loyalty and lifetime value.
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Funding
Total Funding
$144M
Below
Industry Average
Funded Over
5 Rounds
AccelIndustry standards
Benefits
Flexible Work Hours
Unlimited Paid Time Off
401(k) Company Match
401(k) Retirement Plan
Health Insurance
Stock Options
Professional Development Budget
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↓ -3%2 year growth
↑ 0%Trove, the leader in branded resale and customer trade-in, is advancing its European and global expansion by acquiring reverse.supply, a German-based leader ...
Trove has acquired custom resale platform Recurate for an undisclosed amount, expanding its branded resale operations. Recurate’s cofounders, Wilson Griffin and Adam Siegel, will join Trove as VPs of sales and product, respectively. The acquisition enhances Trove’s offerings with peer-to-peer solutions and Shopify integration, aiming to create a comprehensive resale platform. Trove now commands over 75% of the branded resale traffic in the U.S., adding 29 new brand partners, including Steve Madden and Michael Kors.
本稿は独立系ベンチャーキャピタルSTRIVEによるものを一部要約して転載させていただいた。原文はこちらから、また、その他の記事はこちらから読める。なお、転載元のSTRIVE Blogでは起業家やスタートアップに興味のある方々に向けて事業成長のヒントとなるコンテンツを配信中。投資相談はSTRIVE（公式サイト・Twitter）をチェックされたい. 近年、一層の注目をあつめる環境問題や気候問題。世界各国で発生する自然災害の主要因となるこれらの問題への意識は、国だけでなく民間企業、一般の人々の間でも高まっています。大量生産、大量消費、そして大量廃棄を生み出す経済社会に対する懸念が深まっていく中で、資源を持続可能な形で最大限利用し、廃棄を極力生み出さない「循環経済（サーキュラーエコノミー）」への移行が先進国を中心に進んでいます。
“Since Gayle joined Trove nearly 18 months ago, her contributions have been transformative.
Resale startup Trove, for example, announced a $77.5 million series D funding round led by G2 Venture Partners in August.
Trove is Hiring for 1 Jobs on Simplify!
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About Trove
Industries
Consumer Software
AI & Machine Learning
Consumer Goods
Company Size
51-200
Company Stage
Series E
Total Funding
$144M
Headquarters
Brisbane, California
Founded
2012
Trove is Hiring for 1 Jobs on Simplify!
Find jobs on Simplify and start your career today