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Lanham-Based Optoro Lands New Investment from SWaN & Legend

11/25/2013
Optoro, the Lanham-based developer of an e-commerce platform designed to help big-box retailers increase revenue from returned and excess inventory, said on Monday it has landed a new investment from Leesburg-based SWaN & Legend Venture Partners. Financial terms of the deal, which comes four months after the company raised $23.5 million in a round of funding led by Revolution Growth, were not disclosed. Tony Nader, the managing director of SWaN & Legend and vice chairman of NEWAsurion, will join the company's board of directors. Optoro said it will use the latest proceeds to scale its software-as-a-service business and its flagship OptiTurn marketing platform, which provides automated dynamic pricing and posting on multiple online marketplaces, including Amazon, eBay, Buy.com and BestBuy. The company in September announced the opening of a 13,000-square-foot office in Chinatown. 

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