Press Release: SellRaze announces $560,000 in pre-seed funding to revolutionize online selling

ATLANTA, GA, January 9th 2024

Accelerating access to reselling with AI

SellRaze, a next-generation reselling automation platform is announcing a funding round of 560K. Leading this investment is Fusen Fund, created by well-known Atlanta technologist and investor Chris Klaus, alongside a variety of other investors such as Cory Levy, CreateX, and Georgia Tech Foundation.

Their current platform allows users to list items on multiple marketplaces with a single click, automatic delisting of sold items, AI-powered listing optimization, inventory management & more.

"This funding round is a big milestone for our team" Said CEO Jeff Mao, "it will allow us to accelerate growth & product velocity. We are fundamentally changing the way people sell online."

This investment enables the shift from Georgia Tech students to dedicated full-time founders. The mission is to empower everyone to become a seller. Advanced tools craft optimized listings tailored for each marketplace using specialized language models. Propelled by new advancements in LLM technology the team is unfurling the sails to gain maximum acceleration of AI headwinds.

CTO Tyler Ma spoke on the importance of customers, "Our focus is on delivering a stellar product that our customers love. We obsess over our community, we wouldn't be here without them."

Lead investor and Atlanta visionary Chris Klaus chimed in, "Watching the SellRaze team's journey and growth in 2024 is something I'm really looking forward to. Their potential for success in the coming months is substantial"

According to a report by GlobalData, the global market value of secondhand and resale apparel was estimated to be worth $177 billion in 2022, and it is expected to double by 2027, reaching $350 billion. The ThreadUp 2023 resale report expected the US resale market to approach $175 billion, with the secondhand market expected to reach $70 billion by 2027. The resale market for sneakers alone is estimated to be more than $5 billion.

"Increasing accessibility to online selling is no easy task, with SellRaze our goal is to reduce barriers to entry & make selling online so simple that your grandma can do it." Said CEO Jeff Mao.

SellRaze's current platform supports selling on Amazon, eBay, Facebook Marketplace, and Mercari; with plans to expand support for popular marketplaces Offerup, Depop, Poshmark & Etsy by the end of Q1 2024.