NuOrder closed a $45 million funding round led by Natalie Massenet and Nick Brown of Imaginary Ventures and Brighton Park Capital.
WHO: NuOrder was started in 2011 to tackle the biggest challenges faced by the B2B e-commerce industry. The goal was to eliminate printed catalogs, error-prone handwritten orders, and the dependency on spreadsheets to drive meaningful value back to brands and retailers through sales growth and buying efficiencies.
Today, over 3,000 brands and 500,000 retailers use NuOrder’s global e-commerce platform to facilitate a more efficient, data-driven buying and selling process through cutting-edge Virtual Showroom, Visual Assortment Planning, and Payments technology.
WHY: The new funding will enable the building of a two-sided B2B e-commerce platform where brands and retailers can work faster, smarter, and help solve real priorities in the industry.
IN THEIR OWN WORDS: “There has been much focus over the last few decades on the consumer end of retail, but little advancement in the ways the industry operates behind the scenes. NuOrder has built the much-needed technology to power wholesale, buying, merchandising and now payments, providing businesses with digital tools to work efficiently and profitably in a rapidly changing consumer and retail landscape,” Natalie Massenet, co-founder and Managing Partner, Imaginary Ventures, said.
“I have seen firsthand how slowly the fashion and retail industry adapts to change without a tipping point, and this past year has been another critical inflection point for many,” said Massenet. “There has been much focus over the last few decades on the consumer end of retail, but little advancement in the ways the industry operates behind the scenes. NuOrder has built the much needed technology to power wholesale, buying, merchandising and now payments, providing businesses with digital tools to work efficiently and profitably in a rapidly changing consumer and retail landscape.”
Mark Dzialga, Chief Executive Officer and Managing Partner of Brighton Park, said, “NuOrder has digitally transformed the wholesale buying and selling process for leading global brands and retailers. As the consumer landscape continues to evolve, this investment reflects Brighton Park’s strong belief in NuOrder’s talented team, and differentiated platform revolutionizing retail merchandising, payments and visualization. We look forward to leveraging our investment expertise to support the company’s long-term growth and success.”
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