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Gazelle, the consumer electronics recycling service operated by Boston-based Second Rotation Inc., has raised $22 million in a Series D funding round, led by Craton Equity Partners. Venrock Associates, Physic Ventures and Rockport Capital supported the financing.
The company said it plans to use the $22 million to boost its marketing, inventory and working capital.
The last year saw a 155 percent year-over-year revenue growth, Gazelle officials said in a news release.
Its Series C funding round in July 2010 was expected to bring in $12 million, led by Physic Ventures with additional funding from Venrock Associates and Rockport Capital.
Founded in 2006, Second Rotation focuses on “recommerce” in which consumers get cash for selling unwanted electronics through its Gazelle online service.
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