Joor, a US-based wholesale buying fashion marketplace, has raised $15m series B funding led by venture capital firm Canaan Partners and joined by US media company Advance Publications, parent company of Conde Nast. Previous investors from Joor’s series A round also participated, including venture capital firms Battery Ventures, Lerer Ventures, Great Oaks Venture Capital, Landis Capital and Forerunner Ventures.
Joor’s funding to date totals more than $20m. Previously, Joor raised $2.5m series A funding in July 2011. Joor was founded in 2010 by Mona Bijoor.
The funding will be used to scale up the company’s technology and sales infrastructure.
Gina Sanders, president and chief executive officer of Fairchild Fashion Media, a division of Conde Nast: “Joor’s ability to digitally connect brands and retailers will be, we believe, transformational for the global fashion industry. We are excited to be collaborating with the platform to help bring its vision and services to a larger audience.”
Dan Ciporin, general partner at Canaan Partners., said: “Through its unique online marketplace platform, Joor enables leading luxury fashion brands on an exclusive basis to connect seamlessly to any retailer anywhere. Joor is a great fit for Canaan’s marketplace strategy, and we are tremendously excited and proud to be part of the Joor growth story with this investment.”
Canaan Partners recently provided seed funding to US-based apparel and accessories start-up Cuyana.