With $ 3.25M Increase, Arlington’s Recurate Uses Software to Reduce Quick Mode Waste
Well let To repeat grab this slogan for free: “E-commerce has never looked better.” (Huh?)
The sustainability-conscious Arlington-based e-commerce integration company announced a $ 3.25 million raise this month, led by Gradient Ventures and Rise of the rest.
Its web integration software, built using AWS and Rubies on rails, gives brands the ability to host peer-to-peer resale of similar products to third-party sites such as Poshmark and Depop. In return for the sale, those who use the platform to get rid of their old purchases can receive cash or store credit while providing brands with the option to recoup some of the money from the sale.
Using Recurate, Founder and CEO Adam siegel said the goal was for businesses to be able to sell a garment multiple times instead of just one, providing additional income and the opportunity to reduce waste.
âFrom our point of view, a product that has already been made but is under someone’s bed, in someone’s closet, in some cabinet or in someone’s garage, that product is simply not being used in this moment, âsaid Siegel Technically. “And if we can find a way to get this item back into circulation so that someone else can enjoy it, that eliminates the need to produce new products and all the energy, water, waste, materials. necessary for the production of new ones. “
The company, which was launched in November 2019, coincided with the “meteoric” growth of the e-commerce market following the pandemic (brb as I check this package I await). This included the online second-hand market, launched by eBay and taken to a new level with sites like ThredUp, the RealReal and Facebook market during the last years. But both Siegel and partner Wilson griffin had retail experience – Siegel at Association of Retail Industry Leaders and Griffin at Difference and Produce fresh clothes – This is how Siegel said the two knew the brands were not seeing any gains from growing the resale market.
âThey see that their products are sold on third-party platforms, and they just don’t benefit from knowing who their customer is, they don’t even know who is buying their products, let alone. [benefitting] financially of this transaction, âsaid Siegel.
With this increase, he hopes that Recurate can further develop its technology to add more brands and further support the customer service team. Recurate will also use the funding to expand its team locally and remotely; he is currently hiring for four positions and will likely add four to six by the end of the year.
Right now it works with brands like RE / DONE, Womance and Brass to create second-hand marketplaces on brand websites. The company also announced partnerships with Mara Hoffman, Line and Cutting edge design, and Siegel said it will launch with a few more big brands in the near future.
In addition to offering brands an additional source of income, Siegel hopes his company can help reduce the environmental impacts of e-commerce. Siegel said that especially in fashion, where most of Recurate’s brands are located, there has been a concerted effort in recent years to make the industry more sustainable and circular, which means products can be reused. or recycled after their initial purchase. According to a UN report, around 92 million tonnes of textile waste are created each year and 84% of clothing ends up in landfills.
According to Siegel and Griffin, the most durable products are those purchased second-hand, which has led to Recurate’s mission to provide a second-hand solution. In April, the company partnered with the Council of Fashion Designers of America in honor of Earth Month for a series of speakers on circular fashion.
âBrands recognize that as an industry there are significant environmental impacts associated with the production and sale of clothing, especially with the rapid fashion boom over the past two decades,â said Siegel. “So it’s a clear way to involve consumers in this more sustainable transition.”