NuOrder Announces $45 Million in Funding
NuOrder, a Los Angeles–headquartered business-to-business e-commerce platform, announced on March 10 that it had raised $45 million in a round of funding led by Brighton Park Capital and Imaginary Ventures. It is the largest round of funding in NuOrder’s 10-year history, with the its last round taking place in 2018.
NuOrder also announced that Natalie Massenet, Imaginary Ventures’ co-founder and managing partner, will be joining NuOrder’s board of directors. Massenet was a pioneer in fashion e-commerce. In 2000, she founded the digital retailer Net-a-Porter Group, which created shoppable editorial for brands. Consumers clicked on pictures of product in editorial to make purchases.
“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,” Massenet said. “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. Imaginary Ventures is proud to back NuOrder, and I am delighted to join the board of directors to help guide the company as it enters into this next phase of growth.”
Olivia Skuza, NuOrder’s co-founder and co–chief executive officer, agreed that the current time was critical for growth.
“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,” Skuza said.