Good Buy Gear, a U.S. online marketplace and white-glove consignment service for used baby and kids’ gear, has raised US$750,000 in a seed-stage financing. The round was led by Access Venture Partners and joined by other investors, including Canadian mobile venture capital firm Relay Ventures. Founded in 2016, women-led, Denver-based Good Buy Gear’s pickup-to-payout platform and service is currently available to metro locations in Colorado. The company plans to expand in the state and to other U.S. cities.
Good Buy Gear Raises $750K in Seed Round Financing
The mom-run used kids’ gear online marketplace plans to disrupt the industry and expand in Colorado and beyond.
DENVER, Jan. 30, 2018 /PRNewswire/ — Good Buy Gear, an online marketplace and white-glove consignment service that’s revolutionizing how parents buy and sell gently used baby and kids’ gear, today announced that it has secured $750K in seed round financing. The investment was led by Access Venture Partners, a Denver-based fund that focuses on local technology-based businesses that demonstrate the potential to grow at a rapid pace. Silicon Valley–based Relay Ventures and an additional four North American angel investors also participated in this round of investment. Kirk Holland, managing director at Access Venture Partners, will join the Company’s board of directors.
Good Buy Gear is the only online marketplace with a white-glove approach to buying and selling previously owned baby and kids’ products, like strollers, furniture and toys. Unlike other online marketplaces where the customer does the heavy lifting of taking and posting photos, writing descriptions, negotiating pricing and shipping or delivering items, Good Buy Gear manages everything from pickup to payout. This allows busy parents to avoid the hassle of consignment stores or uncomfortable meet-ups with strangers that often accompany selling gear online. Customers enjoy a safe, curated shopping experience, reliable payment (up to 70% of the final sale price) and unmatched convenience.
“We started this company to solve a personal pain point with the waste, clutter and never-ending costs associated with raising children,” said CEO and Cofounder Kristin Langenfeld, who started the business out of her garage in 2016 with COO Jessica Crothers. “Selling and buying pre-used gear also teaches kids about money, the true meaning of ‘reduce, reuse, recycle’ and living more simply.”
Good Buy Gear currently serves the Boulder and Denver metro area, offers nationwide shipping on many items and is planning to expand to more cities throughout the U.S. by delivering an e-commerce experience a growing number of eco-minded, minimalist consumers seek. For some Good Buy Gear customers, this upcycling approach has become more than just a way to turn clutter into cash. It has inspired them to become passionate company evangelists who spread the word about this convenient service with a mission they believe in. As a “Wingmom,” they guide new customers through the shopping experience.
“Good Buy Gear has transformed the chore of decluttering into a time-saving, money-making enterprise,” said Kirk Holland, managing director at Access Venture Partners. “We were impressed by the start-up’s leadership and ability to innovate quickly and meet the needs of a large, underserved market that cares about consuming in a more sustainable way.”
About Good Buy Gear
Founded in 2016, Denver-based, female-founded Good Buy Gear is an online marketplace and white-glove consignment service that’s revolutionizing how parents buy and sell gently used baby and kids’ gear. Customers browse items for sale, download the app and post items directly or schedule a full-service, white-glove pickup. In 2017, Good Buy Gear was named to Boomtown’s prestigious accelerator program. Learn more about Good Buy Gear on Facebook, Twitter and Instagram.
About Access Venture Partners
Since 1999, this Denver-based, entrepreneur-focused fund has been investing in early-stage Colorado Front Range tech companies led by exceptional management teams with the passion and ability to build world-class organizations that can redefine markets — and maybe even change the world. The firm’s investment portfolio includes partnerships with innovators such as Craftsy, Inspirato, Taskeasy, Logrhythm, Shapeshift, Red Canary and Cloud Elements among others.
About Relay Ventures
Relay Ventures is an early-stage venture capital firm focused exclusively on mobile software, services, content and technology. Today, one in two smartphones in the world run software from a Relay portfolio company. With offices in both Menlo Park, Calif., and Toronto, Relay invests throughout Canada and the United States. www.relay.vc
Good Buy Gear
Cambria Jacobs, 303.589.3855
Photo courtesy of Good Buy Gear