New York City-based subscription model and B2C eCommerce enabler startup OrderGroove recently raised $20 million in a Series C venture funding round led by National Securities Corporation.
To date, OrderGroove has raised $37 million in funding from investors, including Lerer Hippeau Ventures, SWaN & Legend Ventures and Western Technology Investment, among others. OrderGroove has yet to disclose its valuation for this current round.
Founded in 2010, OrderGroove’s claim to startup fame is a SaaS-based subscription and membership commerce platform and network. The startup’s technology enables brands and retailers to strengthen relationships with their customer base in both online and brick-and-mortar stores with the goal of generating repeat sales. Companies that currently use OrderGroove’s technology include Walmart, PetSmart, Nestlé, L’Oréal and GNC, among others.
With the latest funding round, OrderGroove Founder and CEO Greg Alvo told TechCrunch that the startup is looking to expand into developing frictionless commerce capabilities and personalized consumer experience technologies for its clients as a means to compete in the eCommerce space against formidable online retail behemoth Amazon.
Alvo was quoted as saying: “Amazon is terrifying for many companies. And it’s now getting into private labels for consumer packaged goods and more. Acquiring all the customer data and information that it has, Amazon can now easily switch over to its own brands and take your customers with them … We’ve tested a number of services to see how they resonate with consumers, and we’re still in the early stages of this. We’re not yet married to one specific technology … There is a lot of momentum around chatbots, which can provide a level of personalized service and potential[ly] know a consumer better than he knows himself.”
OrderGroove is reportedly currently looking at a number of technologies, said TechCrunch, including bots as mentioned above, but also instant-ordering services, a la Amazon Dash, and voice-enabled consumer interfaces.