US-based wholesale buying fashion marketplace Joor has collected $16m in a series C round led by diversified trading group Itochu, VentureBeat has repeated.
The round included participation from venture capital firms Canaan Partners and Battery Ventures, and increased the company’s overall funding to $36m.
Founded in 2010, Joor operates an online marketplace that enables brands and retailers to buy and sell wholesale fashion goods. It also provides analytics, data management and forecasting tools to approximately 200,000 retailers and 8,600 brands that use the platform.
Joor plans to use the series C proceeds to expand its presence in Asia, beginning with Japan, and to bolster its platform with additional tools.
Kristin Savilia, chief executive of Joor, told VentureBeat: “The series C is going to allow us to continue to build the platform, where brands and retailers are making data-informed decisions quickly and creating meaningful efficiency across the supply chain.”
Canaan Partners led Joor’s $15m series B round, which included media group Advance Publications, as well as existing investors Battery Ventures, Lerer Ventures, Great Oaks Venture Capital, Landis Capital and Forerunner Ventures in 2013.