Purple Dot scoops $4m for inventory software tackling supply chain woes
British ecommerce start-up Purple Dot has raised 4 million dollars in early-stage funding led by U.S. based Unusual Ventures.
Purple Dot operates what’s said to be the world’s first e-commerce waitlist and pre-order platform for clothing. The firm’s services help brands and retailers reduce waste by selling inventory before it arrives in the warehouse, while managing pre-orders and restock waitlists to ensure only a suitable amount of stock is manufactured.
The company was founded in 2019 by Madeline Parra and John Talbott. The company claims they are the only platform of its type that allows companies to sell inventory earlier to maximise sales.
In a statement, Parra said, “By selling earlier, brands open up a whole new window to capture sales. The legacy mindset and technology assumes you need inventory in the warehouse to sell it. But with Purple Dot, you can always be selling because selling and shipping can be asynchronous. This is the “A-ha” moment for our brand partners. To get a sell-earlier strategy right, you need a dedicated approach that gets the customer experience, and internal tooling, right.”
Rachel Starr of Unusual Ventures said, “Purple Dot is more than an e-commerce enabler; they are revolutionizing how supply chains are managed and how brands sell, and we believe that pre-orders and waitlists will shape the future of online shopping.”
