Serena Ventures led a $3 million seed round for Trace, a newly launched presale fashion marketplace available as a mobile web app and a native app. The round included participation from Shakti VC.
Katie Pfleger and Ella Rubin founded Trace; Pfleger previously worked at Etsy and Rubin was part of the Walmart Online Grocery launch. Both are Harvard Business School graduates.
Trace’s website features the taglines “Sell it before you buy it” and “Same wardrobe, a fraction of the commitment.” The marketplace lets someone interested in a fashion item put feelers out to see if others share that interest and would rent or own the piece afterward, allowing participants to share the cost.
How Trace’s presale model works
Users can create a listing within seconds by copying and pasting a product link into the app; AI extracts product details from the link to assemble the listing. A user can list an item before buying it and let others “call” to rent or buy; each call reduces the lister’s cost to purchase.
For purchases, buyers pay a 10% service fee and a $3 buyer protection fee, while listers pay no commission on the product. For rentals, renters pay a 10% service fee and a $5–$12 protection fee, and listers pay a 15% commission.
Funding and investor endorsements
Serena Williams said “Trace is transforming the way people shop.” Serena Ventures said it invested in Trace because of the market opportunity, its unique approach and the founders. In a LinkedIn post the firm wrote, “We are thrilled to announce the launch of TRACE!” and added, “SV backed TRACE because we believe in the power of making resale easier.”
