NuOrder has raised $45 million in a round led by Brighton Park Capital and Imaginary Ventures. The company said that this new funding is a testament to the acceleration of digital buying and selling over the past twelve months and signals future growth opportunities that exist within the multi-trillion-dollar B2B market.
This phase of investment will support NuOrder’s continued growth and expansion within focus markets and enable the company to claim and transform commerce, finance, payments, data, and discovery between brands and retailers within the global B2B marketplace.
Natalie Massenet, co-founder and managing partner of Imaginary Ventures and founder of Net-A-Porter, will join as a board member and strategic partner driving European expansion and growth of the fashion and luxury retail markets. Managing partner Mark Dzialga of Brighton Park Capital will also assume a seat on the board and contribute his expertise in helping companies execute against their global ambitions and within payments and marketplace.
“I have seen first-hand 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. 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.”
“NuOrder has digitally transformed the wholesale buying and selling process for leading global brands and retailers,” added Dzialga. “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.”
Over the past twelve months, NuOrder has seen 125 percent growth driven by the effects of the pandemic and the need for businesses to digitize and streamline their processes, with 30 percent of GMV coming from Europe. Leading retailers including Saks Fifth Avenue, Nordstrom, and Bloomingdale’s conduct all of their buying and selling through NuOrder exclusively.
“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. 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,” said Olivia Skuza, co-founder and co-CEO of NuOrder.
“At a time when the B2B commerce landscape is evolving rapidly, we remain focused and are in a position to execute on our core mission of setting the global standard for commerce, discovery, and payments and delivering the industry with a best in class solution through a single platform,” added Heath Wells, co-founder and co-CEO of NuOrder.