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Canaan Partners leads $15m Series B round for Joor fashion marketplace

26 Jul 2013

fashion_shoe_170sqTechnology-focused venture capital firm Canaan Partners has led a $15m Series B financing round for fashion marketplace Joor.

Fellow new investor Advance Publications also took part in the financing alongside existing backers Battery Ventures, Forerunner Partners and Lerer Ventures.

Joor said the investment would be used to expand its global footprint and increase its technology and sales infrastructure.

Canaan general partner Dan Ciporin said, “Joor has established clear leadership in bringing disruptive innovation to one of the largest markets in the world, namely the $350bn luxury fashion market.

“Through its unique online marketplace platform, Joor enables leading luxury fashion brands on an exclusive basis to connect seamlessly to any retailer anywhere.

Joor is a great fit for Canaan’s marketplace strategy, and we are tremendously excited and proud to be part of the Joor growth story with this investment.”

Canaan’s last reported investment was another $15m Series B round for big data company WibiData in May.

The round was backed by existing investors New Enterprise Associates and Google chairman Eric Schmidt, and took the total amount of funding raised by the company to $20m.

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