OpenStore Raises $75M in Series B Funding

OpenStore, a Miami, FL-based startup that acquires Shopify businesses and gives entrepreneurs liquidity, raised $75M in Series B funding.

The round was led by General Catalyst, with participation from existing investors Atomic, Founders Fund, and Khosla Ventures.

The company intends to use the funds to expand operations and its business reach.  

OpenStore provides a technology platform to sell an e-commerce business by streamlining the entire sales process. The company buys the business directly from the owner, turn around offers in 24 hours and close in as little as 1 week.

OpenStore’s engine uses the info the owner provides to pull the insights it needs directly from the source, accurately analyze different cohorts of data and build key business forecasts.