Online fashion marketplace JOOR secured US $15 million in series B funding led by Canaan Partners, along with Advance Publications. Existing investors Forerunner Partners, Battery Ventures and Lerer Ventures also participated in the round.
In a statement, JOOR said the money will be utilized to support the company's vision to expand its global reach. JOOR has so far raised over US $20 million in capital fund.
JOOR's website primarily connects retailers with fashion designers and manufacturers. To date, it carries 600 brands and has around 40,000 consumers.
Mona Bijoor, Chief Executive Officer of JOOR, said the company is committed to its goal to become the de facto platform for luxury brands. "JOOR is eager to move into new international markets and expand our team to further support our sales and technology infrastructure," she said.
Meanwhile, Dan Ciporin, general partner at Canaan Partners, said that JOOR has established itself as one of the leaders in the US $350 billion luxury fashion market. This makes JOOR "a great fit for Canaan's marketplace strategy," he added.
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