Buywander, a Seattle, Washington-based provider of an auction-based marketplace for returned and overstocked retail inventory, has raised $21 million in a Series A funding round led by Madrona Venture Group and Inspired Capital, bringing the total amount to $28 million.
SUMMARY
- Buywander raised $21M in Series A funding.
- Funds will support national expansion and technology.
- Buywander is an auction marketplace for returned products.
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Follow usThe round also saw participation from Triple Impact Capital, Silence Ventures, Animal Capital, and angel investors.
The company plans to use the funding to accelerate national expansion, invest in technology, and grow its leadership team.
What is Buywander?
Buywander operates an auction-based marketplace for returned and overstocked products from vetted retailers, including Amazon, Target, Walmart, and Home Depot.
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Every item starts bidding at $1 in a timed online auction. Customers can pick up their purchases at a local warehouse, eliminating shipping costs. Purchases are also backed by a 7-day return policy.
How Much Funding Has Buywander Raised?
Buywander has raised $28 million in total funding.
Its latest round is a $21 million Series A, led by Madrona Venture Group and Inspired Capital.
No details of previous funding rounds were provided.
Who Invested in Buywanders Series A Round?
The Series A was led by:
- Madrona Venture Group
- Inspired Capital
Participating investors included:
- Triple Impact Capital
- Silence Ventures
- Animal Capital
- Angel investors
Why the Funding Matters
Buywander plans to use the new funding to expand nationally, invest in technology, and grow its leadership team.
The company has also expanded its leadership team to support its commercial operations and market expansion.
Who founded Buywander?
Buywander was founded in 2023 by Jordan Allen, and Brock Kowalchuk.
The company is headquartered in Seattle, Washington.
Its expanded leadership team includes Laura Sasser, Chief Operating Officer; Mani Sundaram, Chief Product Officer; Daniel Kiepfer, VP of Data, and AI; Abu Marcose, Senior Director of Warehouse Technology; and Roger Ling, Director of Marketing.
Market and Business Growth
Buywander connects value-seeking buyers with returned, and overstocked goods sourced from vetted retailers.
The company's marketplace uses timed auctions with products starting at $1. Customers collect purchases from local warehouses, allowing Buywander to eliminate shipping from the purchasing process.
As part of the latest funding round, Scott Jacobson, Alexa von Tobel, and Greg Greeley joined Buywander's board of directors, while Charlotte Ross joined as a board observer.
What Happens Next?
Buywander will focus on national expansion, technology investment, and leadership growth.
The company will continue expanding its marketplace and operations as it scales its auction-based model for returned and overstocked retail inventory.
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