Total amount raised
$36.1 Millions
Latest funding date
2/1/2019
Location
JOOR has successfully raised significant funding through multiple rounds, with its latest round being a Venture - Series Unknown. The platform serves as a B2B wholesale marketplace, connecting fashion brands and retailers globally.
Keep reading to explore the intricacies of JOOR's fundraising journey and the investors backing this innovative platform.
What Is JOOR?
JOOR, founded on March 1, 2010, by Mona Bijoor, is a B2B wholesale platform headquartered in New York, New York. The company connects fashion brands and retailers, streamlining the wholesale purchasing process.
With a focus on eliminating manual processes, JOOR provides tools for order management, payments, and virtual showrooms. The platform aims to increase income, reduce expenses, and improve customer experience for its users.
Currently, JOOR employs between 51-100 people, offering a robust digital solution for the fashion industry's wholesale needs.
How Much Funding Has JOOR Raised?
- Series A
- Amount Raised: $2.3M
- Date: July 2011
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and expand the team.
- Series A
- Amount Raised: $3.3M
- Date: September 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance product offerings.
- Series B
- Amount Raised: $15M
- Date: July 2013
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology infrastructure.
- Series C
- Amount Raised: $16M
- Date: February 2019
- Lead Investors: ITOCHU Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and enter new markets.
- Series D
- Amount Raised: $46M
- Date: June 2021
- Lead Investors: Macquarie Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and innovation, particularly in new product categories.
- Venture Round
- Amount Raised: $25M
- Date: October 2023
- Lead Investors: Brightwood Capital Advisors, Tamarix Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new categories and enhance the JOOR Pay solution.
Total Amount Raised: $107.6M. Current Valuation: Not publicly disclosed.
Key Investors
- Brightwood Capital Advisors
- Details: Brightwood Capital Advisors is a private investment firm that provides capital to growing U.S.-based businesses. They focus on middle-market companies across various industries.
- Investment Focus Areas: Business services, healthcare, technology.
- Notable Investments: Not publicly disclosed.
- Tamarix Capital Partners
- Details: Tamarix Capital Partners is a private equity firm that focuses on providing growth capital to companies. They invest in growth-stage companies across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- Macquarie Capital
- Details: Macquarie Capital is the advisory, capital markets, and principal investment arm of Macquarie Group. They are known for their global capabilities in infrastructure, energy, and real estate.
- Investment Focus Areas: Infrastructure, energy, real estate, technology.
- Notable Investments: Not publicly disclosed.
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm. They invest in technology and innovation-driven companies at all stages of growth.
- Investment Focus Areas: Software, IT infrastructure, consumer technology, industrial technology.
- Notable Investments: Glassdoor, Wayfair, Nutanix.
- Canaan Partners
- Details: Canaan Partners is an early-stage venture capital firm. They invest in technology and healthcare startups.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: LendingClub, Match.com, Instacart.
What's Next for JOOR?
JOOR is poised to seize significant opportunities by expanding into new categories such as sports, footwear, and outdoor products. With the platform already processing nearly $20 billion in wholesale transactions annually and serving over 14,000 brands and 600,000 fashion buyers globally, the potential for growth is immense. Enhancing the JOOR Pay solution will further streamline transactions, making it easier for brands and retailers to do business.
Future fundraising opportunities seem promising, given the recent successful $25 million round led by Brightwood Capital and Tamarix Capital Partners. This financial backing, coupled with the confidence of existing investors, suggests that JOOR could attract additional investments to fuel further innovation and expansion.
However, JOOR may face challenges such as navigating a tough macroeconomic environment and ensuring continuous innovation to stay ahead of competitors. Managing the complexities of expanding into new product categories and maintaining the platform's efficiency will be crucial for sustained growth.
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