Grover surpasses €50m annual recurring revenues and 150,000 products re-circulated
As of September, Circularity Capital portfolio company Grover has generated 2.2x year-on-year-growth, surpassed €50 million annual recurring revenues across 100,000+ active subscriptions and recirculated 150,000 devices.
Grover is seen as the “Netflix for technology” and allows consumers to rent (or subscribe to) products on a flexible basis. Each returned product is refurbished into ‘as new’ condition, enabling Grover to serve more consumers with fewer products. This extends the useful life of each item through reuse, repair and redistribution, enabling collaborative, circular consumption for both consumer and business subscribers.
During the COVID-19 pandemic, Grover has leveraged the flexibility of its platform to support customers across Germany and Austria, most recently launching in the Netherlands. Specific home office and home entertainment packages have been launched for the increased number of home workers, while the company has also partnered with Samsung in its Neues Lernen project to provide a comprehensive solution to advance digitalisation in the German #education system. Neues Lernen provides schools with flexible access to hardware, digital learning materials and teacher training, as well as technology management and support services.
Furthermore, Grover has partnered with Microsoft to provide teachers and students with free access to key software and classroom tools to facilitate the transition to effective remote teaching and learning during the COVID-19 period.
To find out more about Circularity Capital’s investment in Grover.