In a major announcement for the industry, B-Stock has announced that they have closed a $7mm growth equity round. From their blog they say:
B-Stock Solutions, 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 characteristics.”
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:
- A secure and easy-to-use web-based auction platform
- Expert liquidation and auction strategy guidance
- Real time reporting and analytics on secondary market pricing and demand characteristics
- Exposure across the B-Stock Sourcing Network, the largest and fastest growing network of branded liquidation marketplaces and qualified business buyers
”We are pleased to be working with B-Stock Solutions as they transform the traditional liquidation industry. The team’s auction strategy, marketplace management, and demand generation expertise have created an incredible solution that no other company has been able to match,” said Amir Goldman, Managing Director at Susquehanna Growth Equity. “B-Stock’s rapid growth to become the leader in their market has been remarkable and it is testament to their team’s performance and dedication to their clients.”
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.