Wholesale marketplace Abound raises $22.9M
Abound, a wholesale marketplace helping merchants stock up with unique products has recently raised $22.9M in a series A funding round led by Left Lane Capital.
According to Abound the funding will help them expand their services internationally, grow their team, and enhance their tech offerings with the release of industry-first features.
“In a very short period of time, Abound has been able to attract thousands of brands and retailers across the US and UK with our personalized and maker-friendly approach to wholesale e-commerce, This funding will allow us to continue to attract and support the most talented small business owners across North America and Europe.”
– Bill Shope, CEO and Co-Founder, Abound
Founded by Niklas de la Motte, Bill Shope, and Drew Sfugaras in 2019, Abound’s marketplace is dedicated to discovering and supporting the most creative and innovative brands across the US and UK. Abound experienced a year of explosive growth as demand for a modern wholesale platform hit an all time high and since the start of 2020, the company has added over 180,000 products to their marketplace and experienced a 20-fold increase in monthly sales volume.
Abound’s network of manufacturers and craftspeople have been able to sell to new and existing retailers safely throughout the pandemic. Simultaneously, Abound’s network of retailers have been able to order inventory on their own timelines, allowing them the flexibility to provide their customers with the products they want and need in an efficient, cost-effective manner.