Joor raises $25 million to expand into sports and footwear
Cassidy STEPHENS
Joor, the American digital platform specialising in wholesale, has announced that it has raised $25 million (€23.6 million). The funds are intended to accelerate the company’s development and investment in innovation. The company intends to strengthen its payment systems and boost its presence in the footwear, sports and outdoor sectors.
The round was led by Brightwood Capital and Tamarix Capital Partners. They were supported by existing investors Macquarie Capital, Battery Ventures and Canaan Partners.
“This new round of funding will enable Joor to deliver an increasingly rich experience on one platform to its extensive global network of fashion brands and retailers,” says the company. “In addition to new data-driven initiatives, the company also plans to enhance its Joor Pay solution and expand into categories such as footwear, sports and outdoor activities.
The company currently boasts 600,000 professional buyers in 150 countries, as well as 14,000 partner brands. Joor highlights its collaborations with LVMHRichemontTapestryStella McCartneyValentinoKate SpadeDr. MartensPrintempsHarrodsNeiman MarcusShopbop
“Joor has a proven track record of enabling the growth of world-renowned brands and retailers,” says CEO Kristin Savilia. “In a challenging macroeconomic environment, we are delighted that our investors recognise the value of the Joor solution and share our vision of accelerating the platform’s growth through further innovation and enhanced platform capabilities.”
Headquartered in New York, Joor also has offices in Los Angeles, Philadelphia, Paris, London, Milan, Madrid, Berlin, Melbourne, Tokyo and Shanghai.
