Boston based Gazelle has just announced that they have raised $22 million in series D funding led by Craton Equity Partners. Current investors Physic Ventures, Venrock Associates and RockPort Capital also participated in the round. Gazelle has raised $46.4 million to date with its last round occuring exactly one year ago today in July of 2010.

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.

Gazelle has seen tremendous growth over the past year and recently moved its headquarters to Boston’s scenic innovation district. In 2010 the company achieved 155% year over year growth in revenues and has attracted more than 175,000 customers to trade in or recycle used electronics.

“The capital will enable us to really scale the business, we have recently launched a TV campaign in order to go after the mass market and will be focusing heavily on retail relationships,” said Kristina Kennedy, Director Brand and Communications at Gazelle. “We are also exciting about being a top end player in the Boston community. Moving our office to the innovation district is a great opportunity to attract talent and collaborate with some of the great companies here,” added Kennedy.

With this new injection of capital (its largest to date) Gazelle is making strong moves towards the mass population. The new funding also enables Gazelle to make additional investments in key areas of the business, including operational capital, marketing, inventory acquisition and additional processes that will continue to enhance the company’s industry-leading customer experience.

“We are impressed by Gazelle’s innovative business model which serves a vast consumer market while having a positive environmental impact,” said David Asarnow, Principal at Craton Equity Partners, who joins the Gazelle board of directors. “Gazelle has a world class team and unlimited opportunity for growth, and fits our model for investing in forward thinking companies with progressive models and technology to address climate change. We look forward to supporting their continued success.”