Total amount raised
$127 Millions
Latest funding date
11/1/2022
Location
Ordergroove has successfully raised funds through multiple rounds, with the latest being a Private Equity round on November 10, 2022. The company is backed by 11 investors, including Primus Capital Partners and National Securities Corporation.
Keep reading to explore the intricacies of Ordergroove's fundraising journey and the investors supporting this subscription-based e-commerce platform.
What Is Ordergroove?
Ordergroove, founded in 2010 by Greg Alvo, is a subscription-based e-commerce platform headquartered in New York, New York. The company specializes in transforming one-time transactions into recurring revenue streams for retailers and direct-to-consumer brands.
Ordergroove's platform offers features like AI-enabled Relationship Commerce Cloud, predictive reordering, and omnichannel readiness. It integrates seamlessly with existing systems and supports new commerce channels such as SMS and voice.
With a team of 101-250 employees, Ordergroove is dedicated to providing flexible subscription solutions that enhance customer retention and optimize performance for e-commerce businesses.
How Much Funding Has Ordergroove Raised?
- Series A
- Amount Raised: Not publicly disclosed
- Date: February 26, 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's initial operations and develop its subscription platform.
- Series B
- Amount Raised: $7M
- Date: November 6, 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and scale the business.
- Debt Financing
- Amount Raised: $3M
- Date: January 1, 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth initiatives.
- Series C
- Amount Raised: $20M
- Date: January 17, 2017
- Lead Investors: National Securities Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand market reach.
- Private Equity Round
- Amount Raised: $100M
- Date: November 10, 2022
- Lead Investors: Primus Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in subscription technology and develop next-generation shopping experiences.
Total Amount Raised: $130M. Current Valuation: Not publicly disclosed.
Key Investors
- Primus Capital Partners
- Details: Primus Capital Partners is a private equity firm that led the $100 million funding round for Ordergroove. They focus on growth equity investments in companies that are making a significant impact in their sectors.
- Investment Focus Areas: Retail, eCommerce, Technology Platforms
- Notable Investments: Not publicly disclosed
- National Securities Corporation
- Details: National Securities Corporation is a financial services firm that led the $20 million Series C funding round for Ordergroove. They provide a range of investment banking services.
- Investment Focus Areas: Financial Services, Investment Banking, Capital Markets
- Notable Investments: Not publicly disclosed
- Undisclosed Investors
- Details: Several investors participated in Ordergroove's Series B and Debt Financing rounds. Specific details about these investors are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Ordergroove?
Ordergroove stands at the cusp of significant growth, driven by its recent $100 million funding. The company plans to enhance its subscription technology and develop next-generation shopping experiences, tapping into the booming eCommerce subscriptions market, which is projected to approach $1 trillion by 2026. With a 59% increase in Gross Merchandise Volume in 2022, the potential for expansion is immense.
Future fundraising opportunities seem promising, given the strong investor confidence demonstrated by the recent funding round. As Ordergroove continues to innovate and scale, it may attract further investments to support its ambitious growth plans. However, the company will need to navigate challenges such as rising customer acquisition costs and competition from other subscription service providers.
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