Cordance Completes Acquisition of Upright Labs
Raleigh, NC, March 29, 2022: Cordance today announced its acquisition of Upright Labs, a Washington, DC-based provider of e-commerce solutions for secondhand retailers.
The secondhand retail market was an estimated $160 billion market in 2021 and is projected to grow to over $350 billion by 2030 (according to the GlobalData 2021 Reuse Report). This new relationship with Cordance will allow Upright Labs to benefit directly from the many years of expertise of the Cordance team and allows Upright Labs the advantage of Cordance’s financial and executive resources to help scale the company to match the needs of its market.
“Upright Labs has done an exceptional job of boosting the productivity and bottom line for its clients in the secondhand ecommerce market,” says John Bennett, CEO at Cordance. “We’re eager to start working closely in concert with its leadership team to guide the company in meeting its growth potential in this rapidly growing sector.”
“Over the last five years, the Upright team has been dedicated to providing the best e-commerce operating system for second-hand retailers with a level of customer support that ‘wows’ our clients,” says David Engle, CEO of Upright. “We’re excited to partner with Cordance and look forward to accelerating the focus on clients and supercharging our software to best serve our clients each and every day.”
Upright Labs (uprightlabs.com) works with secondhand retailers to supercharge their e-commerce operations. Founded in 2017, Upright Labs has grown to be the go-to trusted advisor for those organizations seeking operational efficiency and the ability to drive revenue to the bottom line. Services include streamlining and improving ecommerce, operations, sustainability, analysis, and financial growth for its clients. Upright Lister is the company’s featured cloud-based multichannel inventory and listing tool. FE International acted as exclusive M&A advisor to Upright Labs.