First Round News Hubb
Advertisement Banner
  • Home
  • First Round News
  • Funding News
  • Contact
No Result
View All Result
  • Home
  • First Round News
  • Funding News
  • Contact
No Result
View All Result
First Round News Hubb
No Result
View All Result
Home Funding News

E-commerce subscription platform Ordergroove bags $100M from Primus Capital Partners

admin by admin
November 13, 2022
in Funding News



Reportedly, the e-commerce subscriptions market is expected to approach $1 trillion by 2026. Betting big on this segment, New York-based Ordergroove enables subscriptions and membership experiences for retailers and direct-to-consumer brands.

$100M investment from Primus Capital Partners

Now, Ordergroove has received $100 million in capital led by a US-based growth equity firm, Primus Capital Partners. With this, the total funding raised by the company is around $150 million. The funding will be used to double down on the company’s investments in its best-in-class subscription technology and continue to develop its next-generation frictionless shopping experiences as it ushers in the Relationship Commerce era set in motion by Ordergoove more than a decade ago.

“This vote of confidence by Primus underscores our leadership position in the category,” said Greg Alvo, Founder, and CEO of Ordergroove. Subscriptions are hard and Ordergroove makes it easy and delightful for both Fortune 2000 companies and emerging brands to become subscription-first. This partnership with Primus will allow us to fuel our rapid growth and continue to scale our investments in product and innovation.”

Ron Hess, Managing Director at Primus, seconded the salute to Ordergroove’s paradigm-shifting leadership. He said, “Our goal at Primus is to seek out companies that are making an exceptional impact on a sector, which Ordergroove is doing with retail and eCommerce. The Ordergroove team has built an industry-leading platform to help brands build more sustainable revenue streams—and to scale in response to consumer demand,” Hess said.

“The Honest Company has always been a subscription-first brand which is why we turned to Ordergroove’s technology,” said Pete Gerstberger, Chief Digital and Strategy Officer at The Honest Company. “Ordergroove’s infrastructure and analytics capabilities enable us to build and sustain strong, long-lasting consumer relationships that center around the most important moments in all of our lives.”

Founded by lifelong entrepreneur

Ordergroove was founded by Greg Alvo in 2012 in New York. Alvo’s journey in entrepreneurship began as a freshman in high school, when he faced a potential legal challenge for his homegrown business. Back then, he created and sold posters for both the winning and losing teams of professional and college sports championships on eBay.

Despite the setback, he quickly started another business in 2000 in tech. He founded a software consultancy named Voteq, stepped into e-commerce with Liquidation.com, and a short-lived company named Digiceipt, which never came to fruition.

Manages subscriptions of fast-growing brands

Ordergroove enables subscription and membership experiences for the world’s largest and most innovative retailers, including L’Oréal, The Honest Company, Bonafide, IL MAKIAGE, La Colombe, and PetSmart. It helps merchants deliver frictionless subscription experiences that delight shoppers, grow recurring revenue, and boost customer lifetime value.

Ordergroove’s proprietary Relationship Commerce platform allows the company’s technology to integrate with leading e-commerce platforms, including Shopify, BigCommerce, Salesforce, Magento, SAP Commerce, and custom e-commerce platforms. It uses artificial intelligence, analytics, and unmatched consumer expertise to empower top brands to transform their commerce experiences while making their consumers’ lives easier.

The post E-commerce subscription platform Ordergroove bags $100M from Primus Capital Partners appeared first on Tech Funding News.



Source link

Previous Post

The Capital Quest | Israeli cybersecurity startups Island, Wib, Veriti raise $88 mn in VC funding

Next Post

Unqork Announces the 2022 Winners of the Unqork Create Awards

Next Post

Unqork Announces the 2022 Winners of the Unqork Create Awards

Recommended

Finnish deep tech startup Upright secures €5M to democratise impact data of companies

2 months ago

Oxford university spin-out Opsydia carves £3.5M funding for its unique diamond ID technology

5 months ago

Why revenue shouldn’t be your North Star Metric

3 months ago

The Capital Quest | Fintech venture KreditBee pulls in $80 mn as part of a larger Series D round

2 months ago

Agora, Inc. Announces Changes to Board of Directors

1 month ago

A Brand’s Guide to the Metaverse

5 months ago

first-round-white

© 2022 First Round News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • First Round News
  • Funding News
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • First Round News
  • Funding News
  • Contact

© 2022 First Round News Hubb All rights reserved.