Back Market joined the Unicorn Club on May 17, 2021, after raising a $335 million Series D funding round led by General Atlantic. Headquartered in New York City, New York, United States, the company operates an online marketplace for refurbished electronics, offering high-quality devices at affordable prices while promoting sustainability through circular consumption.
Keep reading to learn how Back Market became a billion-dollar marketplace redefining refurbished tech and sustainable e-commerce.
What Is Back Market and What Does It Do?
Founded in 2014, Back Market is a leading marketplace for refurbished electronics. It connects verified refurbishers with consumers seeking reliable and affordable alternatives to new devices. The platform grades products based on condition, provides detailed product descriptions, and ensures quality through strict testing and certification processes.
Beyond selling refurbished electronics, Back Market enables users to trade in or sell their used devices, thereby extending product lifecycles and reducing e-waste. The company’s model promotes sustainability while delivering competitive pricing and warranty-backed purchases.
How Much Funding Has Back Market Raised?
- Series D and Earlier Rounds
- Cumulative Funding: ~$510 million
- Key Investors: General Atlantic, Generation Investment Management
- Purpose: Strengthen global marketplace infrastructure, expand repair and refurbishing partnerships, and enhance logistics and quality assurance systems.
- Series E Round
- Amount Raised: $510 million
- Date: January 11, 2022
- Purpose: Scale operations across North America and Europe, and drive sustainable consumer adoption of refurbished technology.
Total Funding Raised: ~$1.02 billion
Latest Funding Date: January 11, 2022
Latest Known Valuation: ~$5.7 billion
Employee Count: 45 (as of Dec 31, 2023)
Stage: Series E
Key Investors
- General Atlantic
- Details: Global growth equity firm investing in technology and consumer platforms with a strong sustainability focus.
- Focus Areas: E-commerce, digital consumer goods, and sustainable retail.
- Generation Investment Management
- Details: Investment firm founded by Al Gore, emphasizing sustainability-driven growth across sectors.
- Focus Areas: Climate-conscious business models, renewable energy, and circular economy innovations.
Where Is Back Market’s Headquarters?
Back Market is headquartered in New York City, New York, United States. Its primary operations span digital marketplace management, refurbisher partnerships, logistics coordination, and sustainable product certification.
What’s Next for Back Market?
Back Market aims to further expand its refurbished ecosystem globally, invest in advanced product verification systems, and deepen collaborations with manufacturers and recyclers. The company continues to lead the charge toward reducing global e-waste by making refurbished electronics mainstream for both consumers and businesses.
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