Abound, the US-based operator of an online wholesale marketplace, has completed a $22.9m series A round featuring branding consultancy Red Antler.
Venture capital firm Left Lane Capital led the round, which also featured RiverPark Ventures and All Iron Ventures.
Founded in 2019, Abound operates an online marketplace where independent retailers can purchase stock at wholesale prices.
The company offers consumer products including clothing, jewellery, stationery, homeware, food and drinks. It said it has added more than 180,000 products to its marketplace and increased its monthly sales volume by 20 times since the beginning of 2020.
The series A round was Abound’s first institutional funding and will enable it to hire new staff, develop its technology platform and continue its international expansion.
Bill Shope, Abound’s co-founder and chief executive, said: “In a very short period of time, Abound has been able to attract thousands of brands and retailers across the US and UK with our personalised and maker-friendly approach to wholesale e-commerce.
“This funding will allow us to continue to attract and support the most talented small business owners across North America and Europe.”