October 11, 2017–NEW YORK–INTURN, the technology company that reinvented the way brands and retailers sell and purchase off-price inventory, announced it has moved its headquarters to 22 W 19th St, one block from its previous offices in New York, to accommodate rapid growth. This follows a $22.5 million Series B financing round led by B Capital Group, founded by Facebook co-founder Eduardo Saverin and Raj Ganguly, supporting INTURN’s global growth.
Founded in New York in 2013, INTURN is in the midst of a period of rapid growth, with some of the world’s most recognizable brands and retailers selling inventory to buyers spanning over 40 countries through privately controlled offerings. INTURN’s new Manhattan office has over 11,000 square feet for its near 50 employees, as well as room to accommodate up to 70 more. INTURN will occupy the fifth floor of the 11-story building in Chelsea.
“INTURN’s rate of growth is accelerating as more retailers and brands turn to our platform to innovate and automate their excess inventory processes,” said Ronen Lazar, CEO and Co-Founder of INTURN. “These new headquarters bring us the right resources and collaborative environment we need to not only keep pace with growing demand, but to evolve our technology to drive further industry transformation.”
The 115-year-old Cluett building has been fitted with modern conference room technology and open meeting spaces for both long-distance and internal collaboration. The office is accessible by multiple entrances on 18th and 19th Street. The proximity to INTURN’s original headquarters causes minimal disruption for employees, and a smooth transition for all partners, affiliates and clients.
INTURN is the first global B2B online platform innovating the way brands and retailers sell and buy excess inventory. The platform protects the brands’ integrity by connecting buyers and sellers in private online showrooms, and only after a mutual opt-in process. INTURN’s first vertical focus is the $250 Billion fashion and apparel sector. The online marketplace brings together, for the first time, buyers and sellers from all over the world and provides them with automated tools to replace what is a manual, painstaking, error-prone process. The result is a solution that provides retailers a chance to find more inventory and brands a chance to find the ideal retailer faster—while delivering a powerful opportunity for both sides to increase profitability. INTURN is designed and led by retail industry veterans and technology experts and funded by leading retail technology investors. For more information visit www.inturn.co.