Most independent retailers don’t have much time to source products for their stores. Instead, they are reliant on distributors that visit the store with products or on attending tradeshows. There are a number of emerging brands that would like to be on these shelves but don’t have the huge sales staff necessary to visit these retailers independently. Abound connects the two with its online wholesale marketplace. Retailers get access to a curated selection of products from vetted brands spanning various product categories like Accessories, Baby & Kids, Beauty, Food & Drink, Home, and Jewelry while getting flexible payment and return terms; the brands are able to secure retail placement through the platform. In 2020 despite the pandemic, Abound grew rapidly, registering a 20x growth in monthly sales volume, adding 180,000+ products to the marketplace. AlleyWatch caught up with CEO and Cofounder Bill Shope to learn more about the business, future plans, and the company’s latest funding round from investors that include Left Lane Capital, RiverPark Ventures, All Iron Ventures, and Red Antler.
The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 2/18/2021 featuring funding details for Eden Health, Abound, and much more.