The company said it planned to use the financing to grow its retailer and supplier networks in the UK and expand its Range Rank market data service.
Rangespan was founded in January 2011 by former Amazon executives Ryan Regan and Matt Henderson.
Octopus ventures team principal Alliott Cole said, “Matt and Ryan are two very talented, experienced entrepreneurs who are building something very special at Rangespan.
“We have been really impressed by the progress made in recent months and look forward to supporting the business as it continues to grow.”
Octopus invests between £250,000 and £5m per deal and prefers to partner with teams based in the UK.
In August Octopus Ventures also reinvested in online luxury travel club Secret Escapes as part of an £8m Index Ventures-led financing round.
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