NuORDER is a B2B (business-to-business) ecommerce app company that allows brands and retailers to streamline their business operations. The ecommerce app business was designed to make the buying and selling process easier for brands and retailers so that overall sales increase for each company that uses the B2B app platform.
According to NuORDER’s website, the ecommerce business has more than 3,000 brands and 500,000 retailers using the B2B service, as well as, more than $38 billion in sales. The B2B ecommerce business services many different brands and retailers such as Coach, Lacoste, Asics, Spanx, Saks Fifth Avenue, Bloomingdales, and more.
Since the B2B ecommerce company is privately held, there is no information available regarding net worth. However, the NuORDER raised $81.9 million in total funding over several different funding rounds with a number of investors. Additionally, the company recorded a 125% revenue growth in 2020.
The most recent funding round for the B2B ecommerce and app company was the largest one yet. NuORDER announced on Wednesday that the business raised $45 million in funding — an $800 million valuation. Brighton Park Capital and Imaginary Ventures are the lead investors.
$45 Million in Funding
With this new funding, Natalie Massenet, co-founder and managing partner of Imaginary Ventures and founder of Net-A-Porter, and Mark Dziagla, managing partner at Brighton Park Capital, will join NuORDER as a board member and lend their expertise for European expansion, growth of the luxury fashion and retail markets, and assistance helping companies achieve their global goals.
Massenet said, “...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.”
The funding from this round will be used to continue NuORDER’s growth and expansion. In addition, the funding will help the company claim and transform commerce, finance, payments, and data and discovery between brands and retailers in the global B2B marketplace.
Heath Wells, co-founder and co-CEO of NuORDER, said, “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.”
About the Author
McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.