JOOR, a global frontrunner in the digital wholesale ecosystem, has recently announced a successful capital raise of $25 million. This funding round saw participation from leading investors such as Brightwood Capital and Tamarix Capital Partners, along with contributions from existing investors like Macquarie Capital, Battery Ventures, and Canaan Partners.
Enriching the Digital Wholesale Experience
The fresh capital infusion is set to empower JOOR in enhancing its platform, offering a richer experience to its vast international network of fashion brands and retailers. The company is also gearing up to launch new data-driven initiatives and further develop its JOOR Pay solution. Moreover, JOOR is looking to broaden its reach in various categories, including footwear, sports, and outdoor segments.
A Decade of Digital Transformation in Fashion
Over the past ten years, JOOR has established itself as the go-to wholesale management solution in the fashion industry. By digitizing the entire wholesale buying and selling process, it has enabled brands and retailers to streamline operations and harness data for informed decision-making. With a clientele that includes over 14,000 brands and 600,000 curated fashion buyers spanning 150 countries, JOOR processes an impressive $20 billion in wholesale transactions every year.
Exclusive Partnerships and Global Reach
JOOR’s exclusive partnerships are not limited to renowned luxury fashion houses like LVMH, Richemont, and Tapestry but also include iconic brands such as Stella McCartney, Valentino, Kate Spade, and Dr. Martens. Furthermore, global digital retailers and premier department stores like Neiman Marcus, Shopbop, Printemps, and Harrods exclusively conduct their buying through JOOR.
Investors’ Take on JOOR’s Journey
Michael Novoseller, a Strategic Partner at Brightwood Capital, expressed his admiration for JOOR’s transformative impact on the wholesale ecosystem. He believes that JOOR is well-positioned for continued growth as it modernizes every facet of the wholesale process. Mark Hauser, Managing Partner at Tamarix Capital Partners, also praised JOOR’s team for their unique combination of industry expertise and technological prowess.
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