Optoro Raises $23.5 Million To Sell Merchandise Online
Optoro is a startup that helps distribute merchandise online that has raised $23.5 million in funding. This round of funding was led by Revolution Growth Fund. Optoro’s solutions can dramatically increase recovery rates by connecting returned, distressed, and overstock inventory directly to the end consumer.
Optoro can keep track of a sellers’ goods and posts that inventory in online marketplaces to connect it with secondary buyers. Optoro’s solution is called OptiTurn. OptiTurn uses data analytics to match product pricing to real-time market conditions.
This lets clients earn as much as possible from goods that are just sitting around in a warehouse. Some of Optoro’s clients includes Amazon.com, Best Buy, eBay.com, and Buy.com.
Optoro will be using the funding to scale their software-as-a-service and marketing platform. Based in Lanham, Maryland, Optoro has raised $33 million thus far and has 90 employees.