B2B e-commerce platform NuORDER has closed its Series B funding round on $8m, which was led by Argentum.
Other contributions to the investment came from Upfront Ventures, Greycroft Partners, Cowboy Ventures and Novel TMT & Box Group.
Founded in 2011, the company is a B2B e-commerce solution provider, offering retailers a one stop place to browse products and catalogues, access real-time inventory data and place orders from mobiles or computers. The company currently has over 800 brands and 300,000 retailer buyers using the platform, which have translated to $5bn worth of transactions, according to the company.
This investment will help the company fund product development and innovation, and global expansion. Funds will also be used to continue expanding into new industries and growing its product line.
NuORDER co-founder and CEO Heath Wells said, ?At NuORDER, we are revolutionizing wholesale between brands and retailers by providing a cloud and mobile eCommerce experience that is specifically designed for B2B.
?It is mind boggling how antiquated the B2B sales process is between brands and retailers. We eliminate the time, errors and frustrations of pen, paper and the fax machine, enabling brands to sell more with less effort and allowing retailers to acquire the specific inventory they want and need 24/7 from any client brand globally.p>
As part of the investment, Argentum managing partner Walter Barandiaran has joined the company board of directors.
Following the latest injection of capital, total equity raised by NuORDER has reached $21.9m.
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