– USA, CA – 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 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:
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.
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.
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).
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.
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