Optoro, a Washinton, DC-based provider of returns optimization software, closed a $75m equity funding round.
The round was led by Franklin Templeton, with participation from Revolution Growth, Generation Investment Management, and Tenfore Holdings, amongst others.
The company intends to use the funds to scale the platform to reach more retailers and brands and invest in R&D.
Led by Tobin Moore, CEO and cofounder, Optoro provides retailers and brands with a platform to manage, process, and sell returned and excess inventory. Using comprehensive data analytics, its returns optimization platform determines the best path for each item, maximizing recovery, lowering processing costs, and reducing environmental waste.