1. News
June 15, 2021updated 02 Nov 2021 9:44am

JOOR raises $46m in Series D funding to support growth

JOOR platform hosts more than 12,500 brands and has exclusive partnerships with over 30 major global retailers.

US-based digital wholesale management platform JOOR has raised $46m in a Series D funding round to accelerate its expansion.

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The company’s latest funding round was led by Macquarie Capital Principal Finance , with participation from previous investors, including ITOCHU Corporation, Battery Ventures and Canaan Partners .

JOOR will use the funding to increase its investment in platform innovation, payments and financing, as well as supporting its ongoing global and vertical expansion strategy.

JOOR CEO Kristin Savilia said: “JOOR’s singular mission is to digitally enable and transform our industry. We are pleased to have such great partners to support us in this mission as we embark on our next stage of growth.

“This new capital enables us to accelerate innovation as an independent company and to continue to provide industry leading solutions in service of our broad global network of brands and retailers.”

Founded in 2010, JOOR is currently home to 325,000 curated retailers and more than 12,500 brands. The company processes more than $1.5bn in wholesale transactions each month.

Following the latest funding, the company has inducted Macquarie Capital Principal Finance managing director Anand Subramanian into its board of directors.

Subramanian said: “We continue to be impressed by the capabilities of JOOR’s technology platform, coupled with its industry leading network of brands and retailers.

“This investment reflects belief in JOOR’s talented team, and we see significant growth for JOOR as they expand their platform to offer payments and financing alternatives to their global client base.”

Earlier this month, the company expanded its presence in Asia by opening its first Chinese office in downtown Shanghai. It already operates in Japan and Australia.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.