$10 million in Series A investment was secured by Purple Dot, a London, UK-based provider of an e-commerce pre-order and waitlist platform.
Investors
- OpenOcean
- Paul Forster
- the former CEO and co-founder of Indeed
- Commerce Ventures
- Unusual Ventures
- Connect Ventures
- Moxxie Ventures
Use of funds
The startup wants to change the way e-commerce works by using the money to keep developing its platform and reach more brands in different sectors.
About Purple Dot
Purple Dot, under the direction of CEO Madeline Parra, offers a pre-commerce platform that lets merchants and brands sell goods before they ever get to the warehouse. It helps to address the pressing problem of unsold inventory, which benefits companies, customers, and the environment, by enabling brands to sell early and with confidence. The solution gives users and merchants a seamless experience by integrating with the current eCommerce infrastructure. Hundreds of businesses, including Sachin & Babi, Lando Norris, Goorin Bros, Astrid and Miyu, and Oh Polly—one of the fastest-growing private fashion enterprises in the UK—use the service, which processes millions of dollars’ worth of transactions every month.
The firm employs fifteen people who are dispersed around Charlotte, North Carolina, and London.
“At Purple Dot, our mission is to create a world where, ultimately, every product that is manufactured is sold. With the existing e-commerce approach, firms miss out on sales opportunities and end up with unsold inventory since they have to wait for product to arrive at the warehouse before they can begin selling. The next wave of innovation, in our opinion, will take place in the lead-up to stock arrival, allowing companies to sell inventory wherever it is in the world. With the help of our pre-commerce technology, companies regain control over their sales schedules and may optimize their earning potential. We are overjoyed to have the backing of our investors as we expand and enable firms to revolutionize their e-commerce approaches.”
Madeline Parra
