About Trove
Trove is a company based in Brisbane (United States) founded in 2012 by Andy Ruben and Adam Werbach. It operates as a Product-as-a-Service, and Circular Economy. Trove has raised $148.83 million across 6 funding rounds from investors including BMO, Capital One and Accel. The company has 254 employees as of December 31, 2023. Trove has completed 2 acquisitions, including Recurate and reverse.supply. Trove offers products and services including Resale Sites & Commerce Integrations, Digital & In-Store Trade-In, and Recommerce Operations. Trove operates in a competitive market with competitors including HYLA Mobile, Archive, Recurate, Treet and Create2STAY, among others.
- Headquarter Brisbane, United States
- Employees 254 as on 31 Dec, 2023
- Founders Andy Ruben, Adam Werbach
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Sectors
Retail
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Email
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Phone
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Website
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Social
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- Legal Name Trove
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Products & Services of Trove
Trove offers a comprehensive portfolio of products and services, including Resale Sites & Commerce Integrations, Digital & In-Store Trade-In, and Recommerce Operations. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Modular resale shopping solutions are provided for brands.
Trade-in services are offered for customer engagement.
End-to-end resale logistics are managed for brands.
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Funding Insights of Trove
Trove has successfully raised a total of $148.83M across 6 strategic funding rounds. The most recent funding activity was a Series E round of $32.07 million completed in August 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series E — $32.1M
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First Round
First Round
(25 Mar 2015)
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2023 | Amount | Series E - Trove | Valuation | Wellington , ArcTern Ventures | |
| Aug, 2021 | Amount | Series D - Trove | Valuation | G2VP | |
| Sep, 2019 | Amount | Series B - Trove | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Investors in Trove
Trove has secured backing from 10 investors, including institutional and venture fund investors. Prominent investors backing the company include BMO, Capital One and Accel. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital firm focused on multiple sectors
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Venture capital fund investing in tech companies
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Climate companies are invested in by this venture capital firm.
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Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Venture capital is directed toward companies in multiple sectors.
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Trove
Trove has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Recurate and reverse.supply. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Resale marketplace platform for eCommerce stores is provided.
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2020 | ||||
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Re-commerce solutions are provided for brands and retailers.
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2020 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Trove
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Trove Comparisons
Competitors of Trove
Trove operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as HYLA Mobile, Archive, Recurate, Treet and Create2STAY, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Tech-enabled mobile device trade-in and recommerce solutions are provided.
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| domain | founded_year | HQ Location |
Archive is recognized as an influencer marketing and UGC management platform.
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| domain | founded_year | HQ Location |
Resale marketplace platform for eCommerce stores is provided.
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| domain | founded_year | HQ Location |
A peer-to-peer resale marketplace for branded secondhand items is facilitated.
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| domain | founded_year | HQ Location |
Re-commerce software solutions are provided for brands and retailers.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Trove
Frequently Asked Questions about Trove
When was Trove founded?
Trove was founded in 2012 and raised its 1st funding round 3 years after it was founded.
Where is Trove located?
Trove is headquartered in Brisbane, United States. It is registered at Brisbane, California, United States.
Who is the current CEO of Trove?
Terry Boyle is the current CEO of Trove.
Is Trove a funded company?
Trove is a funded company, having raised a total of $148.83M across 6 funding rounds to date. The company's 1st funding round was a Series B of $17.04M, raised on Mar 25, 2015.
How many employees does Trove have?
As of Dec 31, 2023, the latest employee count at Trove is 254.
What does Trove do?
Recommerce solutions are offered by Trove to support brands in adopting circular models within the fashion and retail sectors. Services include branded resale sites, digital and in-store trade-in programs, and comprehensive recommerce operations such as returns processing and pricing intelligence. Operations are supported across North America, the UK, and Europe, focusing on sustainability by reducing emissions and waste. Modular platforms and integrations are designed to enhance profitability and customer engagement for brands of varying scales.
Who are the top competitors of Trove?
Trove's top competitors include HYLA Mobile, Recurate and Treet.
What products or services does Trove offer?
Trove offers Resale Sites & Commerce Integrations, Digital & In-Store Trade-In, and Recommerce Operations.
How many acquisitions has Trove made?
Trove has made 2 acquisitions, including Recurate, and reverse.supply.
Who are Trove's investors?
Trove has 10 investors. Key investors include BMO, Capital One, Accel, Wellington, and ArcTern Ventures.
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