Optoro, a Washington, DC and Maryland-based platform for returned and excess inventory, connecting buyers and sellers worldwide, received $40m in debt financing.
The company, which has raised over $100 million, will use the funds to scale operations and technology.
Led by Tobin Moore, CEO and co-founder, Optoro provides technology that allows retailers to optimize the management of returned and excess inventory by processing, sorting, and selling these products in a more efficient way via data analytics.
In December, the company closed a $50 million Series C funding. The funding round was led by Kleiner Perkins Caufield & Byers (KPCB) joined by Generation Investment Management (Generation) with participation from existing investors Revolution Growth, Grotech Ventures and SWaN & Legend Venture Partners.