JOOR – the world’s leading digital wholesale ecosystem – recently announced that it has raised $25 million in a new round of funding led by Brightwood Capital and Tamarix Capital Partners. And existing investors Macquarie Capital, Battery Ventures, and Canaan Partners participated. This additional funding round will enable JOOR to deliver an increasingly enriched platform experience in service of its extensive global network of fashion brands and retailers. Along with new data-led initiatives, the company is also planning to enhance its JOOR Pay solution and expand its footprint in categories such as footwear, sports, and outdoors.
In the past decade, JOOR’s platform evolved into the fashion industry’s most comprehensive wholesale management solution — enabling brands and buyers to connect, present collections, build assortments, place and manage orders, process payments, etc. And by digitalizing the entire wholesale buying and selling process, JOOR enables brands and retailers to operate more efficiently and leverage data to optimize their business and inform decision-making.
With over 14,000 brands and 600,000 curated fashion buyers across 150 countries, the JOOR platform hosts the world’s leading wholesale marketplace in the Luxury, Contemporary, Accessories, Footwear and Lifestyle verticals, processing nearly $20 billion in wholesale transactions annually. And JOOR’s exclusive partners range from established luxury fashion houses such as LVMH, Richemont, and Tapestry to leading brands like Stella McCartney, Valentino, Kate Spade and Dr. Martens. Premier department stores and global digital retailers such as Neiman Marcus, Shopbop, Printemps, and Harrods conduct their buying exclusively through JOOR.
KEY QUOTES:
“JOOR has a proven track record of enabling growth for world-class brands and retailers. Amidst a tough macroeconomic environment, we’re thrilled that our investors recognize the value that JOOR’s solution provides and share our vision of accelerating the platform’s growth through additional innovation and enhanced platform capabilities.”
— Kristin Savilia, CEO of JOOR
“We continue to be impressed by the scale of business being transacted on JOOR, combined with their global footprint among the world’s most influential brands and retailers. JOOR is truly transforming the wholesale ecosystem and is poised for continued growth as they modernize every element of the wholesale process. We are delighted to partner with them on this journey.”
— Michael Novoseller, Strategic Partner at Brightwood Capital
“The world-class team at JOOR sparked our interest. They bring together a unique blend of industry knowledge with cutting-edge technological capability and, while others in this climate have pulled back, they have strategically invested in developing industry-leading solutions that strongly position the company for success.”
— Mark Hauser, Managing Partner at Tamarix Capital Partners
