What does Optoro do?
Optoro, is a leading platform for returned and excess inventory. The company revolutionizes the way retailers approach their extra and returned inventory. This company provides a better way of liquidating returned, damaged, overstock box-products, driving higher recovery rates and quick turn times. As the e-commerce grows, returns will become a greater challenge for the retailers, but this company will help with the returns solution. The company is providing a one stop shop solution for manufacturers and retailers for optimizing the transportation and disposition of the excess and returnes inventory. This company helps many manufacturers and retailers in the U.S. in managing, processing and selling the excess and returned inventory.
How much Optoro was funded?
The company raised $30M in Series D on December 20, 2016 from United Parcel Service (UPS), Maryland Venture Fund, Kleiner Perkins Caufield & Byers, Revolution and SWaN & Legend Venture Partners
- $1.9M in Series A on January 21, 2011 from Nigel Morris
- $7.5M in Series A on January 16, 2013 from Grotech Ventures, QED Investors and SJF Ventures
- $23.5M in Series B on July 16, 2013 from Grotech Ventures, SWaN & Legend Venture Partners and Revolution
- $50M in Series C on December 10, 2014 from Grotech Ventures, Revolution, SWaN & Legend Venture Partners and Kleiner Perkins Caufield & Byers
- $40M on July 28, 2015 from Square 1 Bank
What is next for Optoro?
The latest funding raised by the company will help in accelerating the adoption of its solution with the top retialers and brands in the world by offering the best in logistics and technology services. This will help the company in helping retailers in increasing their profits, and in minimizing their environmental footprint.
More about Optoro
Optoro was founded in 2004 by Tobin Moore and Adam Vitarello. It has its headquarters in Washington, District of Columbia. This platform uses multi-channel online marketing and comprehensive data analytics and determines the best path for each item, maximizing recovery and reducing environmental waste.