London-based Purple Dot, a pre-ordering and waiting list platform, has raised $10 million in a Series A funding round.
Led by OpenOcean and joined by Commerce Ventures, Unusual Ventures, Connect Ventures, Moxxie Ventures, and former Indeed CEO Paul Forster, the investment will help Purple Dot expand its platform and reach more brands across various industries.
Purple Dot enables brands and retailers to sell products before they arrive at the warehouse, reducing inventory risk, gathering consumer data, and optimizing sales forecasting. This approach is particularly valuable in light of recent global trade disruptions like the Red Sea shipping crisis, as it helps brands maintain sales momentum and mitigate supply chain risks.
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With headquarters in London and a team spread between London and Charlotte, North Carolina, Purple Dot aims to revolutionize the e-commerce model. CEO and co-founder Madeline Parra emphasized their mission to ensure every product manufactured is sold, addressing the inefficiencies of waiting for stock to arrive before selling. She believes innovation will focus on selling inventory no matter its location, empowering brands to control their sales timelines and maximize revenue potential.
The new funding will support Purple Dot’s growth and its mission to transform e-commerce strategies, enabling brands to sell products more efficiently and effectively.
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