Nuvo Secures $45M in Funding from Sequoia and Index Ventures to Revolutionize B2B Trade
Nuvo, a pioneering network committed to modernizing B2B trade, recently secured $45 million in a funding round led by prominent investors, including Sequoia Capital, Spark Capital, Founders Fund, and others. This significant investment positions Nuvo as a key player in transforming the way businesses engage in trade.
Funding Round Details
The latest funding round attracted notable participation from various angel investors, such as:
- Gokul Rajaram
- Max Mullen (founder of Instacart)
- Matt MacInnis (COO of Rippling)
- Sanjit Biswas and John Bicket (co-founders of Samsara)
- Varun Anand (founder of Clay)
- Eugene Marinelli and Rosco Hill (founders of Blend)
- Ryan Petersen (founder of Flexport)
- Ali Rowghani (former MD at Y Combinator)
Transforming B2B Trade
Nuvo is dedicated to revolutionizing how businesses interact and coordinate the trade of physical goods. The current B2B trading landscape often relies on outdated communication methods such as emails, faxes, and phone calls. By utilizing its platform, Nuvo enables companies to:
- Exchange verified profiles that include identity, credit, banking, and trade history data.
- Facilitate faster and more secure business relationships.
Expansion Plans and Sector Focus
With the influx of new capital, Nuvo aims to expand its reach across critical sectors, including:
- Alcohol and Beverage
- Building Materials
- Chemicals
- Food Service
- Logistics
- Manufacturing
The company also plans to invest in modern payment infrastructure and AI-driven systems to support its growing global network of businesses.
Current Usage and Hiring Initiatives
Nuvo’s platform is already utilized by over 50,000 businesses, including renowned names like Great Dane, Southern Glazer’s Wine & Spirits, and Fender. To support its expansion, Nuvo is actively hiring for various roles in engineering and go-to-market strategies.
Vision for the Future
According to Nuvo CEO and co-founder Sid Malladi, “There are more businesses in the world than ever before, greater connectivity between them, and more trade flowing through every relationship. Continued innovation, growth, and accessibility of goods in the global economy require a new kind of technology infrastructure, and that’s what we’re building at Nuvo.”
For more information on Nuvo and its innovative approach to B2B trade, visit the official Nuvo website. To learn more about B2B innovations, check out this Forbes article discussing emerging trends in the industry.
