INTURN, a retail technology and B2B platform provider, has raised $22.5 million in Series B financing from venture capital firm B Capital Group. The company aims to use the funding to support and expand its growth globally.
The INTURN platform helps brands sell excess inventory to retailers in privately controlled offerings. This B2B exchange is designed to turn inventory faster, improve cash flow and optimize returns.
Prior to the recent funding, INTURN had raised $36 million from numerous investors including Beanstalk Ventures, Novel TMT Ventures, Forerunner Ventures and Benvolio Group, among others.
“B Capital and its partners The Boston Consulting Group bring deep retail technology expertise and the widest global network, which is already accelerating our expansion,” said Ronen Lazar, Co-Founder and CEO of INTURN in a statement. “This is a strong signal to the entire industry that innovation to the management and monetization of inventory is critical in this evolving market.”
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