NuOrder raises $45 million in funding; Natalie Massenet joins board
Leading B2B e-commerce platform NuOrder has announced that it has raised $45 million in a funding round led by Brighton Park Capital and Imaginary Ventures, the venture capital fund co-founded by Net-A-Porter founder Natalie Massenet.
According to the company, the investments will be used to support its continued expansion in focus markets at a critical time for global e-commerce, which has seen an unprecedented acceleration in its growth over the past year due to the shifts in consumer behavior caused by the Covid-19 pandemic.
Following the closure of the funding round, Massenet, who serves as managing partner at Imaginary Ventures, will become a NuOrder board member and strategic partner. In this new role, she will be expected to help drive the company’s expansion in Europe, as well as its growth in the fashion and luxury retail markets.
Brighton Park Capital managing partner Mark Dzialga will also be joining the NuOrder board, where he will contribute his expertise in global business, payments and marketplaces.
“It's a pivotal time for the industry and more important than ever for NuOrder to deliver innovation to brands and retailers globally to help them succeed,” said NuOrder co-founder and co-CEO Olivia Skuza in a release. “The new capital allows us to accelerate our vision with key investments in product and engineering and we feel fortunate to have such a great set of partners championing and supporting our growth.”
Founded by Skuza and Heath Wells in 2011, Los Angeles-based NuOrder provides wholesale e-commerce solutions for the fashion, luxury, footwear, outdoor and sports sectors. Seeking to drive greater efficiencies in the industry and higher revenues for its clients, the platform proposes a range of digital market tools, such as its Virtual Showroom and a recently launched payments offering.
Over the course of the last year, the company has experienced growth of 125% as retailers have been forced to digitize and streamline their operations. 30% of the platform’s GMV for the year came from Europe.
NuOrder currently connects more than 3,000 brands with over 500,000 retailers. A number of big-name retail chains, including Saks Fifth Avenue, Nordstrom and Bloomingdale’s, carry out all of their buying and selling exclusively through the platform.
As well as its LA HQ, the company also has offices in New York, Milan, London, Paris and Australia.
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