Source: PR Newswire
BOSTON, July 21, 2011 /PRNewswire/ — Gazelle (www.gazelle.com), the nation’s largest consumer reCommerce™ service, announced today that Craton Equity Partners (www.cratonep.com) has led its $22 million series D round of financing. Gazelle’s current investors, Physic Ventures (www.physicventures.com), Venrock Associates (www.venrock.com) and RockPort Capital (www.rockportcap.com) also participated in this financing.
In 2010, Gazelle’s business continued to soar, achieving a 155% year-over-year growth in revenues as the company has attracted more than 175,000 Customers to trade in or recycle used electronics. Fueled by its largest financing to date, Gazelle is focused on rapidly accelerating its plans to market its service to mass media. The new funding also enables Gazelle to make additional investments in key areas of the business, including operational capital, marketing, inventory acquisition and additional processes that will continue to enhance the company’s industry-leading customer experience.
“We are impressed by Gazelle’s innovative business model which serves a vast consumer market while having a positive environmental impact,” said David Asarnow, Principal at Craton Equity Partners, who joins the Gazelle board of directors. “Gazelle has a world class team and unlimited opportunity for growth, and fits our model for investing in forward thinking companies with progressive models and technology to address climate change. We look forward to supporting their continued success.”