Woman-owned tech platform gets $3M through N.J. Innovation Evergreen Fund

TLDR:

• The Many Co., a women-owned tech platform based in Ridgewood, received a $3 million investment from Bullpen Capital through the N.J. Innovation Evergreen Fund.
• The Evergreen Fund, launched in 2022, aims to increase access to venture capital in New Jersey by investing in early-stage companies.

The article discusses The Many Co., a tech platform founded in 2020 in Ridgewood by Carolyn Butler and Rich Amsinger. The company was approved to receive a $3 million investment from Bullpen Capital through the N.J. Innovation Evergreen Fund, a groundbreaking program by the New Jersey Economic Development Authority. This fund, established in 2022, acts as an equity investor in early-stage companies, with the state deploying up to $600 million into businesses alongside professional venture capital firms.

Under this program, The Many Co. aims to enable direct-to-consumer sustainable brands to grow and participate in the circular economy by selling refurbished, preowned resale apparel and overstock items. The company’s innovative technology streamlines operations at scale and drives sell-through across e-commerce platforms, providing a sustainable solution for brands to unlock the value of physical assets while reducing environmental impact.

The investment from NJEDA and support from Bullpen Capital will allow The Many Co. to expand its technology and bring more brands into the retail technology and logistics realm. This approval marks another milestone for the NJIEF, showcasing the state’s dedication to supporting women-owned companies and entrepreneurs. The commitment to drive job creation and economic growth across New Jersey remains a key focus of the Evergreen Fund.

Overall, The Many Co. represents the innovative spirit of New Jersey’s startup ecosystem, leveraging the resources provided by the NJIEF to scale its technology and make a positive impact on the retail industry.