Ghost has raised $30 million to grow its members-only B2B marketplace that helps brands and retailers move surplus inventory.
The firm will use the capital from this Series B funding round to add to its product, engineering and design team; further develop its platform; and expand into new categories and geographies, Ghost said in a Monday (Aug. 21) press release.
“Through our team’s deep expertise in the retail sector, Ghost has gained the trust of global brands across fashion, beauty, footwear, home goods and more,” Ghost Co-CEO Josh Kaplan said in the release. “We are expanding our reach across the globe and connecting more of the world’s best retailers than ever before.”
Ghost aims to provide brands and retailers with a new way to liquidate surplus inventory, leveraging data and technology for this task rather than the traditional use of phone calls and fax machines, Kaplan said in the release.
The platform allows sellers to reach vetted buyers and monetize their surplus inventory discreetly and efficiently, according to the release. Ghost helps with buying, selling, pricing and shipping excess goods.
“By allowing sellers to stop being ‘price takers’ and generate superior recovery rates while simultaneously granting buyers access to premium, highly sought-after inventory previously unattainable, Ghost grows the pie and creates win-win solutions for all parties,” Wu said in the release.
Ghost Co-CEO Dee Murthy said in the release: “With Cathay Innovation, we’ve gained a partner with an extensive understanding of the retail industry along with invaluable connections to a global consumer ecosystem that will help Ghost reach brands across the U.S., Europe and Asia.”
Digital marketplace platforms have emerged as a central utility that allows both buyers and sellers to benefit from network effects and access previously untapped growth verticals.
Beyond access to new goods, services or markets, B2B marketplaces remove manual clerical work around the payment occasion while better connecting buyers and sellers through information sharing that drives growth.
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