Circular solutions provider Archive, has announced the closing of a 15 million dollar Series A fundraising led by Lightspeed Venture Partners.

With the additional capital, the company's total funding now stands at 24 million dollars. Lightspeed partner Alex Taussig will also join the board of directors.

The company, which has already developed resale-based platforms for companies including The North Face, Sandro, Oscar de la Renta, and Marimekko, is committed to establishing resale operating models for brands.

In a press statement, Archive stated that the money will be used to assist in hiring for its engineering and brand success teams in order to support further scaling of its integrations and technology.

It will also speed up planned launches in North America and Europe and help the company satisfy the demand from brands to include reselling into their businesses.

Taussig stated in a release that Archive has developed into the "standard choice" for well-known businesses wishing to integrate resale into their supply chain.

The team has created a "best-in-class solution," he continued, to enable resale across all distribution channels and retail outlets.

Emily Gittins, co-founder and CEO of Archive, said that they're designing a future where circular business models are normal for every brand and a serious revenue driver. Archive's resale experiences have received exceptional client feedback. With this additional cash, they will be able to support the most cutting-edge businesses in the world more quickly as they introduce circular business models and influence the future of retail.