Joor Raises $46 Million to Grow Wholesale Capabilities, Expansion
Joor has raised $46 million in Series D funding for the company’s investment in platform innovation, payments and financing, and continued global and vertical expansion.
A leading digital wholesale platform for luxury, fashion and home, the New York City–headquartered Joor hosts more than 12,500 brands and 325,000 curated retailers while processing more than $1.5 billion in wholesale transactions per month. The platform has grown new business 228 percent over the last 12 months with innovative technology, mobile in-market tools and more. It has also partnered with notable brands such as Kate Spade and Dr. Martens and stores such as Neiman Marcus and Revolve, who buy exclusively through the company’s platform.
The round of funding was led by Macquarie Capital Principal Finance and includes previous investors Itochu Corporation, Battery Ventures and Canaan Partners. It was also announced that Anand Subramanian, managing director at Macquarie Capital Principal Finance, will join Joor’s board of directors.
“Joor’s singular mission is to digitally enable and transform our industry,” said Joor CEO Kristin Savilia. “We are pleased to have such great partners to support us in this mission as we embark on our next stage of growth. This new capital enables us to accelerate innovation as an independent company and to continue to provide industry-leading solutions in service of our broad global network of brands and retailers.”
Joor became the first B2B wholesale platform to launch and serve customers in Mainland China as it continued to build the company’s position in North America and Europe. The expansion positions it for continued growth and success in the Asia-Pacific region.
“We continue to be impressed by the capabilities of Joor’s technology platform coupled with its industry-leading network of brands and retailers,” said Subramanian. “This investment reflects belief in Joor’s talented team, and we see significant growth for Joor as they expand their platform to offer payments and financing alternatives to their global client base. We look forward to leveraging our expertise to support the company’s long-term success.”
Photos courtesy of Joor.