Ordergroove, a subscription e-commerce platform receives $100 million from Primus Capital Partners
- ByStartupStory | November 14, 2022
According to reports, by 2026, the market for e-commerce subscriptions should be close to $1 trillion. Ordergroove, based in New York, is placing a large wager on this market by enabling subscriptions and membership experiences for retailers and direct-to-consumer companies.
Now, a US-based growth equity company called Primus Capital Partners has invested $100 million in Ordergroove. With this, the business has raised about $150 million in total. As it ushers in the Relationship Commerce era started by Ordergoove more than ten years ago, the funding will be used to increase the company’s investments in its best-in-class subscription technology and continue to develop its next-generation frictionless shopping experiences.
Greg Alvo, the founder and CEO of Ordergroove, said, “This vote of confidence by Primus confirms our leadership position in the sector. Ordergroove makes it simple and enjoyable for Fortune 2000 organisations and emerging brands to transition to subscription-first business models despite the difficulty of subscriptions. We will be able to accelerate our quick expansion and keep up with our scaled expenditures in product and innovation thanks to our relationship with Primus.
The compliment to Ordergroove’s paradigm-shifting leadership was seconded by Ron Hess, Managing Director of Primus. According to him, Ordergroove is making a significant impact on the retail and eCommerce industries, which is what Primus is looking for in companies.
In order to assist organisations in creating more enduring revenue streams and scaling in response to customer demand, the Ordergroove team has created an industry-leading platform, according to Hess.
The Honest Company has always been a subscription-first company, which is why Pete Gerstberger, Chief Digital and Strategy Officer at The Honest Company, revealed that Ordergroove’s technology was used. “Ordergroove’s infrastructure and analytics capabilities allow us to build and sustain strong, long-lasting consumer relationships that are focused on the most significant moments in all of our lives,” says the company.
Greg Alvo established Ordergroove in New York in 2012. Alvo’s entrepreneurial path began as a high school freshman when he faced a potential legal fight for his own startup company. He produced and offered posters on eBay at the time for both the champion teams in professional and collegiate sports.
Despite the setback, he promptly launched a tech company in 2000. He started the software consulting firm Voteq, ventured into online shopping with Liquidation.com, and launched the doomed Digiceipt company.
For the largest and most creative merchants in the world, like L’Oréal, The Honest Company, Bonafide, IL MAKIAGE, La Colombe, and PetSmart, Ordergroove offers subscription and membership experiences. It enables retailers to offer seamless subscription services that delight customers, increase recurring income, and increase customer lifetime value.
The technology of Ordergroove can be integrated with popular e-commerce platforms like Shopify, BigCommerce, Salesforce, Magento, SAP Commerce, and custom e-commerce platforms thanks to the company’s proprietary Relationship Commerce platform. It empowers top brands to transform their commerce experiences while improving the lives of their customers by utilising artificial intelligence, analytics, and unmatched consumer expertise.
Follow Startup Story
Related Posts
