Optoro Inc., a Washington, DC-based reverse logistics company, secured further Series B funding through Swan & Legend Venture Partners. The amount raised has not been disclosed as of the moment. Optoro earlier this year, had secured USD 23.5 million from Revolution LLC and Grotech Ventures.
Optro will be bringing in Tony Nader from Swan & Legend Venture Partners, who will be taking a seat on the company's board. According to In the Capital, with the additional funding onboard, the logistics company will then be able to scale its Software-as-a-Service and its OptiTurn marketing platforms.
"It has been a busy and successful year for Optoro and the funding that we've secured escalates the pace with which we can transform the reverse logistics market. We are pleased to welcome Tony to our Board. His deep knowledge of the retail industry, sustained corporate growth and experience building exception teams will be a tremendous asset as we grow Optoro." Optoro CEO Tobin Moore said.
According to FinSMEs, founded in 2008, Optoro provides retailers and manufacturers with cloud-based, multi-channel selling technology, online remarketing expertise, and full suite of business intelligence tools for managing and selling returned and excess inventory.
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