This female-founded, online marketplace is gaining impressive momentum as parents search for cost-effective, verified alternatives to buying new
DENVER — October 6, 2020 — Good Buy Gear, a Denver-based online marketplace that enables the recommerce of quality baby, toddler and kid gear, announced $6M in Series A funding today. Revolution Ventures led the round with participation from existing investors Access Venture Partners and Relay Ventures.
Good Buy Gear has emerged as the industry leader in the secondhand and open box kids gear segment by applying their advanced technology, efficient processes, and buyer intelligence to a supply chain that previously didn’t exist.
Emerging resale marketplaces like Good Buy Gear have given second hand shopping the legitimacy and convenience it deserves to become a modern-day movement. Today’s parents value sustainability, convenience, and reuse more than ever, but the category demands a trusted verification partner. In these uncertain times, families are focusing on ways to save money, make money and declutter.
“Being a parent is incredibly hard and expensive, and we believe parents need more help, now more than ever. We are building a company with a mission to help families save time and money for the important stuff all while doing our part to reduce consumerism and empower a circular economy,” said COO and Co-founder Jessica Crothers.
Good Buy Gear’s core proposition delivers value and convenience to parents across the country and has gained significant market share through the pandemic with revenue increasing four-fold since March 2020. With the new funding, Good Buy Gear is focused on product evolution, strategic partnerships and market expansion.
“Revolution Ventures’ brand-building mastery and deep expertise in the e-commerce and consumer space makes them an ideal partner to accelerate our growth trajectory,” said Kristin Langenfeld, co-founder and CEO of Good Buy Gear.
“By unlocking supply piled in basements and developing strict acceptance and verification protocols, Good Buy Gear is fueling the childrens’ re-commerce industry. Their customer-centric model, sophisticated supply chain and logistics operations, and early focus on data positions the company to be the trusted marketplace in baby and kids’ gear,” said Clara Sieg, partner at Revolution Ventures who is joining the board of Good Buy Gear.
About Good Buy Gear
Founded in 2016, Good Buy Gear is a CO-based managed vertical marketplace designed to offer secondhand baby and kids’ gear (such as strollers, toys, bassinets, etc) with a vision to become the leading destination for eco-conscious consumers who like to buy gently used gear. Learn more about Good Buy Gear on Facebook, Twitter and Instagram.
About Revolution Ventures
Revolution Ventures is Revolution’s institutionally-backed early stage fund investing in companies around the country that are attacking large, multi-billion dollar categories. Co-founders Steve Case and Investment Partners Tige Savage, David Golden, and Clara Sieg work with companies that meet their disciplined criteria and form true partnerships with founders to help them build market-leading businesses. Revolution Ventures is headquartered in Washington, D.C. and part of Revolution’s family of funds including Revolution Growth and the Rise of the Rest Seed Funds. Visit us online at revolution.com/ventures or @Revolution.
