Boston-based reCommerce service, Gazelle announced today a $12M Series C round of investment led by Physic Ventures. Current investors Venrock Associates and RockPort Capital also participated in the round. This is the third round of funding in the company’s four year history.

Gazelle, the nation’s largest reCommerce company, provides a practical, responsible, and rewarding way for consumers to re-sell their used electronics. That’s right — clean out your closet of old electronics, make some money, and feel good about going green. The company has experienced tremendous growth over the last year, more than tripling their number of customers, and rapidly approaching the 100,000 customer milestone.

According to Gazelle co-founder and CEO Israel Ganot, “Our goal is to redefine consumption and completely change the way consumers think about buying, owning, selling, and recycling electronics. By helping us bring reCommerce to more people and build infrastructure to support the back-end processes of the business, this financing will make the goal a reality.”

This new round of funding will enable Gazelle to scale it’s business infrastructure to meet the rapid growth of the reCommerce market. With new technologies like the iPhone 4, which sold over 1.5 million units in its first week, the opportunity to capitalize on 1.5 million consumers throwing out their old phones is enormous. Not to mention the environmental impact a couple million old phones have when they’re simply sent to a landfill. Gazelle’s green approach to reCommerce provides a refreshing look on local companies making a difference.