Total amount raised
$36.1 Millions
Latest funding date
02/01/2019
Location
Title
JOOR has successfully raised significant funding over multiple rounds, establishing itself as a key player in the B2B wholesale market for fashion brands and retailers. The platform offers a comprehensive suite of tools designed to streamline wholesale operations, from virtual showrooms to secure payment systems.
Keep reading to delve into the details of JOOR's fundraising journey and discover the investors who are backing this innovative platform.
What Is JOOR?
JOOR, founded in 2010, is a B2B wholesale platform based in New York City. The company was established by Mona Bijoor and provides a comprehensive suite of tools for fashion brands and retailers. With a team of over 200 employees, JOOR aims to revolutionize the wholesale market through its innovative solutions.
How Much Funding Has JOOR Raised?
- Series A Funding Round
- Amount Raised: $2.25 million
- Date: July 19, 2011
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand internationally and grow JOOR's network of boutiques, buyers, and fashion brands.
- Series C Funding Round
- Amount Raised: $16 million
- Date: February 13, 2019
- Lead Investors: Itochu
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform with new capabilities and expand operations in Asia, particularly Japan.
Total Amount Raised: $18.25 million
Current Valuation: Not publicly disclosed
Key Investors
- Battery Ventures
- Details: Battery Ventures is a venture capital firm that invests in technology and innovation-driven companies. They have been involved with JOOR since the Series A funding round.
- Investment Focus Areas: Technology, software, industrial tech
- Notable Investments: Nutanix, Coupa Software, Glassdoor
- Itochu
- Details: Itochu is a Japanese conglomerate with a diverse portfolio, including investments in over 150 U.S. and European companies. They led JOOR's Series C funding round.
- Investment Focus Areas: Retail, technology, industrials
- Notable Investments: Not publicly disclosed
- Canaan Partners
- Details: Canaan Partners is a venture capital firm that invests in early-stage technology and healthcare companies. They have been a consistent investor in JOOR.
- Investment Focus Areas: Technology, healthcare, fintech
- Notable Investments: LendingClub, Ebates, Instacart
- Lerer Ventures
- Details: Lerer Ventures, now known as Lerer Hippeau, is a venture capital fund that invests in early-stage technology companies. They participated in JOOR's Series A funding round.
- Investment Focus Areas: Technology, media, consumer
- Notable Investments: BuzzFeed, Warby Parker, GroupMe
- Forerunner Ventures
- Details: Forerunner Ventures is a venture capital firm that focuses on early-stage investments, particularly in the consumer sector. They were part of JOOR's Series A funding round.
- Investment Focus Areas: Consumer, retail, e-commerce
- Notable Investments: Glossier, Warby Parker, Dollar Shave Club
What's Next for JOOR?
JOOR's future looks promising as it eyes expansion into the lucrative Japanese market, valued at approximately $33 billion annually. By enhancing its platform with new tools for data-informed decision-making and supply chain efficiency, JOOR is well-positioned to capitalize on the growing digitalization of the fashion wholesale industry.
With the successful Series C funding round, JOOR may seek additional investment to further its growth. However, the company faces challenges, including competition from other digital marketplaces and the industry's slow shift from offline to online platforms. Overcoming these hurdles will be crucial for JOOR's continued success.
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