Independent retailers rarely have enough time to source products for their stores in addition to managing their day-to-day responsibilities. Instead, discovery happens when distributors visit the store with products in-hand or when someone from the retailer’s side is able to attend tradeshows. Emerging brands are seeking retail shelf space but don’t have the huge sales staff necessary to visit retailers one by one. Abound is an online wholesale marketplace that connects retailers to brands Retailers are given a relationship-building platform that lets them access 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 placements through the platform; at scale. Founded in 2017, the platform now features over 400,000 products available to 40,000 active retailers in the US and the UK. AlleyWatch caught up with Abound Cofounder and CEO Bill Shope to learn more about the inspiration for the business, the company’s future plans, and latest round of funding from investors that include D. E. Shaw, PointState Capital, Left Lane Capital, RiverPark Ventures, and All Iron Ventures.
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.