OpenStore operates an acquisition platform that buys Shopify-based direct-to-consumer brands, offering fast cash offers and streamlined exits for merchants. The company has acquired dozens of businesses representing tens of millions in revenue and targets U.S. DTC brands with $1M–$10M in gross merchandise volume. OpenStore has grown substantially, tripling its team to more than 100 employees and increasing its pace of acquisitions. It is investing in engineering to automate merchant acquisition and operations, with goals such as cutting offer turnaround from 24 hours to one hour. The company plans to use new capital to continue hiring and to accelerate brand purchases, and is focused on building a unified shopping experience driven by data and capital. Leadership includes Keith Rabois and Jack Abraham, and David Zhu was hired to lead engineering efforts. OpenStore is a Miami, FL-based startup that acquires Shopify businesses and provides liquidity to entrepreneurs. It provides a technology platform to sell an e-commerce business by streamlining the entire sales process and buying the business directly from the owner. The company says it can turn around offers in 24 hours and close deals in as little as one week. OpenStore’s engine uses owner-provided information to pull insights directly from the source, analyze cohorts of data, and build business forecasts. The company raised $75M in a Series B and plans to use the funds to expand operations and its business reach.

Total raised

$107M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2022