The round, which brought Trove’s total funding to date to $122.5m, was led by G2 Venture Partners with participation from Bank of Montreal, Capital One Ventures, Commerce Ventures and Wellington Management.
The company intends to use the funds to expand its roster of brand partners, strengthen its technology and logistics infrastructure, enter the luxury vertical, and service a new customer audience in Europe.
Trove provides white-label technology and end-to-end operations platform for premium brands to take back items from customers’ closets while maintaining control of their brand equity and owning their customer experience, data, and relationships. The company currently serves brands such as lululemon, Patagonia, REI, Nordstrom, Levi’s, Eileen Fisher and Arc’teryx.
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