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, which facilitates transactions between retailers and brands, has raised $15 million in a Series C funding round led by .

The financing鈥�which included participation from existing investors and 鈥�brings NuORDER鈥檚 total capital raised to $40 million since its inception in 2011, according to the Los Angeles-based company.

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NuORDER has built a cloud-based product that鈥檚 made it easier for B2B sales to be conducted online, according to co-founder . That allows retailers to reach more buyers with less time and money, according to the company.

Skuza said that NuORDER has given brands in industries 鈥渁 way to communicate and transact with wholesale buyers through a B2B e-commerce platform.鈥� It claims to have replaced 鈥渙utdated鈥� processes such as printed catalogs and static spreadsheets with a SaaS platform that is accessible from anywhere on any computer or mobile device.

Its main goal with the financing is to invest heavily in product and engineering, and expand its offerings, according to Skuza. As it scales, NuORDER is also looking to sign more global enterprise brands.

鈥淲e were really focused on the brand side, and now we鈥檙e focused on the retailer experience,鈥� she told 附近上门 News.

听NuORDER would not disclose exact revenue figures; however, Skuza said it鈥檚 on track to double revenue growth in 2019. The company currently has more than 1,000 apparel 鈥渂rand customers鈥� and 400,000 retailers that conduct transactions on its platform. About $16 billion worth of gross merchandise volume has been sold through NuORDER, half of which came in the last year alone, according to the company. NuORDER charges brands an annual fee based on the volume of their wholesale business, and its services are free to retailers. The company said it achieved profitability in 2016 but chose “to reinvest back into the company in order to continue to accelerate and fuel our growth in 2017 and 2018.”

Last month, NuORDER unveiled in which the retailers will use NuORDER to move their buying process online with the brands it supplies.

鈥淏2B is going through what B2C went through some years ago,鈥� Skuza said. 鈥淲e鈥檙e at a massive tipping point.鈥�

Recognizing a need to move quickly, NuORDER was able to hit a term sheet within 30 days of sending its first email announcing its intent to raise money, Skuza told 附近上门 News.

鈥淲e then had money in the bank in 90 days,鈥� she added. 鈥淭hat was faster than we expected but speed is very important to us. This is a really hot space with a really large market opportunity.鈥�

Indeed, the U.S. B2B e-commerce market continues to grow, according to research organization Forrester, which sales will reach $1.18 trillion and account for 13.1 percent of all B2B sales in the US by 2021. That鈥檚 up from an estimated $889 billion in 2017.

Photo is of听Oliva Skuza is courtesy of NuORDER

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