Optoro Closes $30M Series D Funding

Optoro, a Lanham, MD-based platform for returned and excess inventory, closed a $30m Series D funding.The round included participation from new investor and alliance partner UPS, as well as additional financing from existing investors Revolution Growth, Kleiner Perkins Caufield & Byers, Generation Investment Management, Tenfore Holdings, SWaN and Legend Venture Partners and the Maryland Venture Fund.In connection with the investment, UPS and Optoro have also formed a strategic alliance, providing a shop solution for retailers and manufacturers to optimize the transportation and disposition of returned and excess inventory.Led by Tobin Moore, co-founder and CEO, Optoro provides retailers and manufacturers with a platform to manage, process and sell returned and excess inventory.Using comprehensive data analytics and multi-channel online marketing, the company’s tech platform determines the best path for each item, maximizing recovery and reducing environmental waste.