THE WHAT? NuOrder, a B2B e-commerce platform, has raised $45 million in an investment round led by Net-a-Porter Founder Natalie Massenet’s venture capital firm Imaginary Ventures.
THE DETAILS Brighton Park Capital also led the round, with Massenet set to join the company as a board member and strategic partner.
The industry expert will aim to drive the company’s expansion in Europe, as well as fashion and luxury retail markets. Brighton Park Capital’s Mark Dzialga will also join the board.
According to a press release, “The funding is a testament to the acceleration of digital buying and selling over the past twelve months and signals future growth opportunities that exist within the multi-trillion dollar B2B market.”
THE WHY? The investment will be used to support NuOrder’s continued growth and expansion within focus markets while enabling the company to ‘claim and transform commerce, finance, payments, data and discovery between brands and retailers within the global B2B marketplace.’
Massenet said, “There has been much focus over the last few decades on the consumer end of retail, but little advancement in the ways the industry operates behind the scenes. 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.”