JOOR, a New York-based digital wholesale ecosystem for the fashion industry, has raised $25 million in funding.
SaaS Investors
The round was led by Brightwood Capital and Tamarix Capital Partners, with participation from existing investors Macquarie Capital, Battery Ventures, and Canaan Partners.
Brightwood Capital Advisors, LLC is a private credit firm that specializes in providing senior debt capital primarily to the U.S. Founded in 2010, Brightwood is headquartered in New York City.
Founded in 2021, Tamarix Capital Partners provides debt and minority equity investments to growing U.S. lower-middle market businesses.
JOOR Use of Funds
The company will used the funding to expand its platform and develop its JOOR Pay solution. Joor plans to invest in new data-led initiatives and expand its presence in categories such as footwear, sports, and outdoors, as well as enhancing JOOR Pay to facilitate secure and efficient payment processing within the platform.
About JOOR
JOOR provides the fashion industry with a wholesale management solution. JOOR's platform connects brands and buyers, enabling them to digitize the entire wholesale buying and selling process. The company's advanced technology provides an end-to-end wholesale solution for presenting collections, building assortments, placing and managing orders, and handling complex billing and payment via JOOR Pay, a revolutionary embedded checkout that simplifies and expedites the payment collections process. JOOR processes nearly $20 billion in wholesale transactions annually and hosts over 14,000 brands and 600,000 curated fashion buyers across 150 countries. JOOR Pay can process 135 currencies, allowing it to enable cross-border purchases. The company is headquartered in New York City and has offices in Los Angeles, Philadelphia, Paris, London, Milan, Madrid, Berlin, Melbourne, Tokyo and Shanghai.
Funding Details
Company: JOOR, Inc.
Raised: $25.0M
Round: Unknown
Funding Month: October 2023
Lead Investors: Brightwood Capital, Tamarix Capital Partners
Additional Investors: Macquarie Capital, Battery Ventures, Canaan Partners
Company Website: https://www.joor.com/
Software Category: B2B Wholesale Platform
Source: https://www.pymnts.com/news/investment-tracker/2023/joor-raises-25-million-to-boost-fashion-wholesale-platform/