- Sara Ehlers |
Inturn is working to revolutionize the retail industry through inventory exchange. Recently, the company just secured a 22.5 million dollar Series b financing round led by B Capital Group, founded by Facebook co-founder Eduardo Saverin and Raj Ganguly.
Overall, the investment will help the company's growth globally, changing the way retailers sell and purchase off-price inventory. “It’s rare to find a company transforming an industry at the scale and adoption rate that Inturn is across both large and small businesses. We’re very excited to partner with Inturn to further geographic expansion across all retail categories,” said Raj Ganguly, Co-Founder and Partner of B Capital Group. “It’s incredible to watch buyers and sellers thoughtfully improve their businesses using Inturn’s platform. Inturn is proving to be essential to retail success,” said Bryan Ciambella, Principal, B Capital Group.
Inturn secures million dollar investment to work with retailers' inventory purchasing
Inturn has raised 36 million dollars through other investors as well including Beanstalk Ventures, Novel TMT Ventures, Coach, Forerunner Ventures, and more. Since its establishment in 2013, the B2B company has a network of buyers and sellers spanning over 40 countries globally. The company has an estimated 500 dollar million worth of product available on its platform today that are available for purchase. With this secure investment, Inturn can focus more on transforming both emerging and established businesses.
“B Capital and its partners The Boston Consulting Group bring deep retail technology expertise and the widest global network, which is already accelerating our expansion,” said Ronen Lazar, Co-Founder and CEO of INTURN. “This is a strong signal to the entire industry that innovation to the management and monetization of inventory is critical in this evolving market.”