SecondRotation, an internet startup that buys and resells used electronics, has secured $4.4 million in Series A funding. The round was led by Venrock and also included angel investors Austin Ligon, Ashton Peery and Henry Vogel formerly of eBay.
SecondRotation offers an extremely easy to use online interface where customers answer a few quick questions about the condition of their gadget and get an immediate cash offer. If you like the deal you hit “accept,” print out the shipping info, and then DHL picks up your gadget. As soon as SecondRotation checks out your gear they’ll send you a check or hit your PayPal account. That sounds easy enough.
We’ve written before about the issues of e-waste and the billions of dollars of business potential old electronics possess. This investment in SecondRotation is an excellent sign for that growing market.
On that note today the EPA commemorated the one-year anniversary of their Cathode Ray Tube Rule, a rule intended to encourage recycling of televisions and monitors. SecondRotation has started to accept “worthless” electronics – junk they can’t resell – and will safely and responsibly recycle it for free. The company’s CEO Rousseau Aurelien told us that they have yet to monetize the recycling side of their young business but that they hope this will change as they scale up.