• INTURN

  Participated · Series A · Jan 2016

  Inturn provides software that enables a two-sided marketplace to streamline the sale of unsold clothing and retail products through controlled offerings. An estimated $500 million worth of products are currently available on Inturn’s platform, and the company says it has attracted several marquee clients it declines to name. Inturn generates revenue from subscriptions and by taking a cut of processed transactions. CEO Ronen Lazar estimates a $250 billion addressable market and says the company aims to digitize slow, error-prone industry processes. Investors are backing rapid growth, with B Capital Group saying it will support Inturn at its next stage of growth. The startup was launched in 2013 and is based in New York. INTURN is a global B2B SaaS platform that reinvented the way brands and retailers sell and purchase off-price inventory, operating private online showrooms with a mutual opt-in process to protect brand integrity. The company’s first vertical focus is the $250 billion fashion and apparel sector. Its online marketplace brings buyers and sellers from around the world together and provides automated tools to replace manual, error-prone processes, helping retailers find inventory and brands recover inventory more profitably. INTURN plans to use the $9.7 million Series A to expand its sales and client services teams to support a growing network of global brands and retailers. The financing brings total funding to $13.6 million. INTURN has assembled an advisory board of off-price and retail leaders including Michael Newman, Stephen Milstein, Alexandra Wilkis Wilson, David Margolis and others. INTURN launched a B2B software platform that reinvents how fashion brands and retailers sell and purchase off-price inventory of apparel, footwear and accessories. The platform offers a private, secure marketplace with detailed product information, tailored transaction rules and analytics, and private online showrooms. INTURN’s first vertical focus is fashion and apparel and the product is designed to replace manual, spreadsheet-driven liquidation processes to increase profitability and reduce unnecessary discounts. The company cites a roughly $250 billion annual global off-price apparel inventory market as the opportunity it targets. INTURN is led by CEO and co-founder Ronen Lazar with co-founders Charlie Ifrah and Israel Schachter, and has enlisted industry veterans Michael Newman and David Margolis as advisors. The company announced it completed a $3.6 million capital raise to support its platform launch and growth.

No current team members are available.