GoodBuy Gear, a resale marketplace for baby and children’s products, announced Tuesday that it has secured a total of $14 million in funding. The round was co-led by Interlock Partners and existing investor Revolution Ventures, with participation from six new contributing firms.
Founded in 2016, GoodBuy Gear claims to have sold more than 270,000 secondhand items to date, growing an average of 186 percent year over year since 2018. The platform offers everything from breast pumps, to strollers, to toys — all of which have been gently used and quality inspected. In 2023 GoodBuy Gear also became one of the first companies of its kind to sell pre-owned car seats, and managed to double its base of brand and retail partners. The company partners with retailers to list their returned or open-box products, too.
“Parents in the United States spend $87 billion on baby and kid gear every year, and most of those products are hardly used. In fact 83 percent of the inventory on our marketplace is never or barely used before it’s listed for resale — that’s the massive opportunity GoodBuy Gear was founded to solve,” CEO and co-founder Kristin Langenfeld said in a statement. “With this funding, we are able to accelerate our pace in addressing the entirety of this substantial market.”
This news comes just a couple years after GoodBuy Gear announced its $6 million Series A round. The fresh capital will be used to further scale its online marketplace by expanding its product offerings, partnerships and geographic reach. The company delivers nationwide, and currently offers “white glove selling services” in its hometown of Denver, Philadelphia, Washington DC, New York City and each city’s surrounding metro areas.
Carl Sparks, a managing partner at Interlock, has also joined GoodBuy Gear’s board of directors in light of this recent funding.
“Interlock is impressed with the rapid growth in demand for resale solutions in this space — from parents, brands, and retailers — and the monumental traction GoodBuy Gear has consistently achieved within all three verticals,” Sparks said in a statement. “We are confident in GoodBuy Gear’s promise and capacity to lead here.”
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