Oro, a major new open-source B2B ecommerce platform, has raised $13 million in its first round of funding. The funding round was led by Blumberg Capital with contributions from Bullpen Capital, Floracracy Ventures, Alpine Meridian Ventures, and industry veteran and Magento-cofounder Yoav Kutner.
Oro was created by former Magento-cofounder Yoav Kutner with the intention of providing a powerful, yet flexible and cost-effective ecommerce platform for the ever-growing B2B segment. The platform features an array of innovative features that are tailored to meet the needs of retailers, from single- or third-party marketplace integration to automated invoicing.
Over the past year, the platform has enjoyed tremendous success, with big-name brands like Sony, Bose, and Yamaha using Oro for their B2B operations. The new funding injection will be used to support further expansion of the platform and to help bring on new customers, particularly in the United States.
To help Oro reach its ambitious goals, Kutner and the team have assembled an impressive array of partners, such as PayPal, eBay, and Amazon, to provide the liquidity needed to succeed in the B2B space. In addition, the platform’s modular architecture makes it easy to customize and enhance the platform to an ever-evolving market.
The team is quite enthusiastic about the future, with Yoav Kutner saying: “We’re committed to helping shape the future of commerce by delivering high-performance, truly extensible, web-scale B2B ecommerce solutions to brands, distributors and resellers.”
As the ecommerce industry continues to become more decentralized and tailored to specific needs, it’s likely that Oro and other open-source B2B ecommerce solutions will emerge as the go-to solution for brands of all sizes. With $13 million in its pocket and emboldened by the success it has already enjoyed, Oro looks set to take full advantage of the opportunities ahead.