Total amount raised
$127 Millions
Latest funding date
11/01/2022
Location
Title
Ordergroove has successfully raised significant funding to support its mission of transforming eCommerce through subscription solutions. The platform offers a comprehensive suite of tools designed to enhance customer loyalty and streamline shopping experiences.
Keep reading to explore the intricacies of Ordergroove's fundraising journey and the investors backing this innovative platform.
What Is Ordergroove?
Ordergroove, founded in 2010, is headquartered in Miami, FL. The company specializes in subscription solutions for eCommerce businesses, transforming one-time transactions into profitable customer relationships.
Ordergroove's platform offers features like personalized incentives, advanced analytics, flexible APIs, and dedicated customer support. These tools help businesses grow their recurring revenue and enhance customer loyalty.
While the exact number of employees and the founders' names are not readily available, Ordergroove continues to make significant strides in the eCommerce subscription space.
How Much Funding Has Ordergroove Raised?
- Series A Round
- Amount Raised: $6 million
- Date: March 2012
- Lead Investors: Lerer Hippeau Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and expand its subscription commerce platform.
- Series B Round
- Amount Raised: $11 million
- Date: June 2014
- Lead Investors: SWaN & Legend Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology offerings.
- Series C Round
- Amount Raised: $20 million
- Date: January 2017
- Lead Investors: National Securities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its business and explore new forms of frictionless technology beyond subscription commerce.
- Series D Round
- Amount Raised: $100 million
- Date: November 2022
- Lead Investors: Primus Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build out more services that enhance subscriptions, including prepay subscriptions and analytics.
Total Amount Raised: $137 million
Current Valuation: Not publicly disclosed
Key Investors
- Primus Capital
- Details: Primus Capital is a private equity firm that focuses on growth investments in technology-enabled companies. They led the latest funding round of over $100 million for Ordergroove.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Bottomline Technologies, Imprivata, Payspan.
- National Securities (now part of B. Riley)
- Details: National Securities, now part of B. Riley, is a diversified financial services firm. They have been involved in multiple funding rounds for Ordergroove.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Lyft, Palantir, Coursera.
- Lerer Hippeau
- Details: Lerer Hippeau is an early-stage venture capital firm based in New York City. They were one of the early investors in Ordergroove.
- Investment Focus Areas: E-commerce, media, technology.
- Notable Investments: BuzzFeed, Warby Parker, Glossier.
- SWaN & Legend Ventures
- Details: SWaN & Legend Ventures is a venture capital firm that invests in growth-stage companies. They participated in Ordergroove's Series B funding round.
- Investment Focus Areas: Consumer products, technology, healthcare.
- Notable Investments: KIND Snacks, Cava, Framebridge.
- Western Technology Investment
- Details: Western Technology Investment provides debt and equity capital to early and growth-stage companies. They have been a recurring investor in Ordergroove.
- Investment Focus Areas: Technology, life sciences, clean technology.
- Notable Investments: Facebook, Google, Palantir.
What's Next for Ordergroove?
Ordergroove stands at the cusp of significant growth opportunities, driven by the expanding subscription commerce market, which is projected to reach $1 trillion by 2026. The company plans to leverage its recent $100 million funding to enhance its services, including prepay subscriptions and advanced analytics, positioning itself as a leader in the e-commerce subscription space.
Future fundraising efforts could be on the horizon as Ordergroove continues to attract investor interest, potentially leading to further equity raises or acquisitions. However, the company may face challenges such as increased competition and the need to maintain high customer retention rates in a post-pandemic world.
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