B-Stock Solutions, Inc., the leading provider of inventory Liquidation
Sales Management solutions to retailers and manufacturers, announced
today that it has closed a $7 million Series B growth funding round led
by Susquehanna Growth Equity (SGE). Existing investor, True Ventures,
also participated in the round.
"Retail returns are a $260 billion problem for retailers so it is more
important than ever for them to maximize the value of this distressed
inventory," said Howard Rosenberg, CEO of B-Stock Solutions. "B-Stock
has transformed traditional liquidation methodologies into a
data-driven, technology-based process that is both operationally more
efficient and yields higher prices. We are thrilled that SGE shares our
vision for the business and will be joining our team."
Since B-Stock Solution's Series A funding, the Company has grown its
client base of Fortune 1000 and SMB retailers and manufacturers into the
hundreds and continues to operate profitably. B-Stock Solutions plans to
use this round of funding to support and accelerate its award-winning
B2B liquidation business, which is growing over 200% annually. This will
include expanding its team of marketplace experts to serve its growing
list of enterprise clients, advancing its technology roadmap, and
broadening the suite of services offered across all industries.
"In 2009, True Ventures led B-Stock's Series A funding based on the
notion that this very inefficient part of the reverse supply chain could
be significantly improved," said John Burke, a Partner at True Ventures.
"This team has proven that their technology, services, and extensive
data reporting create substantial value for clients who have never
before had such visibility into secondary market pricing and demand
Retailers and manufacturers continue to suffer financially from the
impact of customer returns and other excess inventory. The trend towards
omni-channel retailing is exacerbating this problem. B-Stock Solutions
helps minimize this negative financial impact by providing:
B-Stock Solutions is also excited to announce that Amir Goldman of
Susquehanna Growth Equity will join Howard Rosenberg and John Burke on
its Board of Directors.
About B-Stock Solutions, Inc.
B-Stock Solutions, headquartered in Redwood City, CA, provides solutions
to retailers and manufacturers that increase their recovery on the sale
of their customer returns and other excess inventory. Typically,
customers report increases in recovery rates of between 30% and 50% as
compared to traditional liquidation techniques. The company builds,
hosts and manages private-label online auction sites and provides a
suite of services to optimize results according to its clients'
requirements. In addition, the company's turnkey solution streamlines
the related operational processes for their clients. To learn more about
B-Stock Solutions, please visit www.bstocksolutions.com.
About Susquehanna Growth Equity
Susquehanna Growth Equity, LLC (SGE) invests in growth stage technology
companies in the software, information services, internet and financial
technology sectors. The firm is backed by a unique and patient capital
base that allows management teams the freedom and flexibility to
maximize growth. SGE's investments include CreditKarma, iCims, Payoneer
and PaySimple as well as exited portfolio companies CashEdge (acquired
by Fiserv), Versafe (F5 Networks), Plimus (Blue Snap) and 29West
(Informatica). To learn more, please visit us at www.sgep.com.
About True Ventures
Founded in 2005, True Ventures is a Silicon Valley-based venture capital
firm that invests in early-stage technology startups. With four funds
and approximately $900 million in capital under management, True
provides seed and Series A funding to the most talented entrepreneurs in
today's fastest growing markets. With a mission to make the world a
better place for entrepreneurs, True encourages each founder's vision
and has built resources to empower the employees, families and
communities of its portfolio companies. The firm maintains a strong
founder community and offers innovative educational opportunities to its
portfolio, helping entrepreneurs achieve higher levels of success and
impact. With more than 150 companies funded and multiple companies
acquired, the current True portfolio has helped create over 3,500 jobs.
To learn more about True Ventures, visit www.trueventures.com.
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