Startup Oro Inc., which helps business-to-business companies create online stores and optimize related aspects of their sales efforts, has closed a $13 million funding round.
Oro announced the round this morning. It was led by Zubr Capital with participation from returning backer Highland Europe. The investment brings Oro’s total outside funding to $25 million.
Oro is the developer of OroCommerce, an open-source platform that business-to-business companies can use to create e-commerce websites. A wholesaler, for example, could create a website that enables retailers to purchase merchandise in bulk. OroCommerce provides a self-service checkout page and supports multiple currencies.
The platform also offers more specialized features. Using OroCommerce, a business-to-business company can create a customized product catalog for each buyer to simplify the procurement process. It’s also possible to create custom catalogs for different subsidiaries of the same company.
OroCommerce can be deployed on both cloud and on-premises infrastructure. Oro monetizes the platform with a paid managed version, OroCommerce Enterprise Edition, that removes the need for customers to maintain infrastructure or manually apply software updates. It also offers several logistics features not included in the open-source version.
OroCommerce integrates with OroCRM, a customer relationship management application developed by the startup. Companies can use the application to centrally store data about sales opportunities and existing deals. Additionally, a built-in analytics tool makes it possible to track business metrics such as the average value of customer purchases.
For more advanced e-commerce projects, Oro offers a platform called OroMarketplace. It can be used to build a business-to-business online store that features merchandise from multiple suppliers. According to Oro, the platform includes tools that ease tasks such as onboarding new suppliers and applying transaction processing fees.
The fourth major component of the startup’s product portfolio is a development toolkit called OroPlatform. It provides a set of pre-packaged software building blocks for creating applications. According to the startup, OroPlatform speeds up development projects by reducing the amount of custom code that software teams must write.
“Over the past decade, Oro has helped hundreds of businesses — from mid-sized manufacturers and distributors to large multi-channel brands — to realize their potential, sell into new global markets, and develop effective, customer-centric digital commerce strategies,” said Oro Chief Executive Officer Yoav Kutner.
Oro’s latest $13 million funding round follows a year in which its software helped process over three million transactions. The startup’s installed base includes companies in more than 100 countries. To further expand its market presence, Oro plans to build new features for its applications, make performance optimizations and expand go-to-market efforts.
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