RECURATE

Adam Siegel and Wilson Griffin founded Recurate in 2020, in the middle of the pandemic. The insight came from watching the resale market explode.

ThredUp, Poshmark and The RealReal were proving that people wanted pre-owned fashion. But every time a customer resold a branded jacket on Poshmark, the brand lost the sale, the data and the customer relationship.

Siegel and Griffin built white-label resale tech so brands could run their own peer-to-peer resale programs under their own name, with Recurate behind the scenes. Steve Madden's Re-Booted, The Frye Exchange and Mara Hoffman's Full Circle Marketplace all ran on it.

B2B SaaS plus transaction fees. Brands pay a monthly software fee for access to Recurate's resale platform.

When peer-to-peer transactions happen inside the brand's resale program, Recurate also takes a percentage of each sale. The platform handles peer-to-peer logistics coordination, payments, and customer-facing experience — all branded as the client.

Brands get the customer data, the relationship, and the sustainability story. Recurate gets recurring SaaS revenue plus transaction upside as brands scale their resale programs.

White-label peer-to-peer resale marketplace, fully branded as the client. Shopify integration.

Peer-to-peer shipping coordination and label generation. An analytics dashboard for brands to track their resale programs.

Since 2024 these tools are part of Trove's platform.

Recurate targeted mid-to-premium fashion, footwear and outdoor brands that were already fielding sustainability questions from customers. The pitch was direct: your customers want to resell your products, so you should own that relationship instead of handing it to someone else's marketplace.

It made the setup easy, with plug-ins for Shopify stores. By May 2022 it worked with more than 40 brands, including Steve Madden, Frye and Mara Hoffman, and each partnership became a reference case for the next.

The endgame came in August 2024, when Trove bought it and both founders joined Trove's leadership team.

Scale. Brand-owned resale is a real market but not a huge one, and between 2022 and 2024 fashion brands cut technology spending as shoppers pulled back.

Recurate had to prove resale brought in real revenue and new customers, not just sustainability PR, while competing with Trove and Archive for the same brands. It answered the question by selling.

In August 2024 Trove acquired it, and Recurate's peer-to-peer and Shopify tools became part of Trove's platform.

Jump Capital led Recurate's $14 million round in May 2022, its largest, with Gradient Ventures (Google's AI fund), XRC Labs, Victress Capital, Revolution's Rise of the Rest Fund and AngelList's early-stage fund, plus executives from Brooks Brothers, Chubbies and Klaviyo. That took total funding past $17.5 million.

The investors got their exit in August 2024, when rival Trove bought the company for an undisclosed price.