Optoro, a D.C. and Maryland based company that helps retailers process and sell returned and excess inventory, announced a $40 million debt financing commitment today.
“We are excited to raise additional capital from two great new partners,TriplePoint Venture Growth BDC Corporation and Square 1 Bank,” said Tobin Moore, CEO and co-founder of Optoro in a release. “This additional funding will help Optoro scale our operations and technology to support the world’s biggest retailers.”
Founded in 2008, Optoro works with many of the largest retailers in the U.S. and its software has helped clients increase revenue by 50-200 percent, selling inventory that would have otherwise gone unsold. This investment brings Optoro’s total amount of money raised to over $100 million