Purple Dot made over $4 million on a new inventory software

Purple Dot made over $4 million on a new inventory software

Every software engineer or developer dream and aim is to be successful and have their software being useful to the world and rake in their dream money in return, this is exactly what happens to Purple Dot company.

Joy over joy, happiness is all over everywhere whenever anyone make money be it businessman or not, bet it tech enthusiast or not, it’s all going to be a full face smile and happiness all over the body.

Exactly same thing actually happens to the Purple Dot company as a specific software they raised makde them a whooping amount of 4 Million USD, That’s huge and they are all happy right now.

What type of company is Purple Dot?

About Purple Dot

In a brief way, Purple Dot just allows customers to buy goods at full or discount prices. In exchange for a discount price, customers wait to see if their discount is granted.

Look it like a bid, applying for the discount price is optional. And if customers are of course not confirmed for the discount price, they receive a full refund.

This particular London-based e-commerce waiting list and pre-ordering platform PurpleDot amazingly raises $4 million (£ 2.95 million) in a funding round to expand payment products, expand business and hire new talent I procured it.

The funding was led by Unusual Ventures. The family offices of former investors Connect Ventures, Moxxie Ventures and Indeed co-founder Paul Forster also participated in the round. And  Previously received startup £ 1.35m in funding for November 2020.

Incase you don’t know, Purple Dot was actually founded in 2019 by entrepreneurs Madeline Parra and John Talbott. As he previously founded Twizoo before closing his business at Skyscanner, a unicorn in the UK in 2017.

This same Purple Dot’s end-to-end waiting list software is designed to of course help retailers manage demand and reduce waste. Its predictive analytics software calculates when an e-commerce business can sell inventory before it arrives in a warehouse.

So Startups claim that this will maximize sales, build brand loyalty, and give businesses faster access to demand data.

Another thing is that many E-commerce brands typically follow the traditional retail model of physical stores and must be in stock in the warehouse before they can sell their products.

Now with the problems increment in the global supply chain, many online brands are experiencing the economic impact of inventory delays.

For sure this software integrates with existing eommerce payment systems and is used by brands such as SPOKE London and Lisa Says Gah.

“By selling previously, the brand opens a whole new window to earning sales. Traditional thinking and technology assumes that the warehouse needs inventory to sell it.” Said Madeline Parra, CEO and co-founder of Purple Dot.

“But with Purple Dot, you can sell at any time because sales and shipments can be asynchronous.

Also, Pioneer waiting list shopping as an early-selling solution and become an e-commerce brand when, how, what. We are pleased to provide a platform for rethinking whether to sell. “

So assuming you are not aware of the before, then it’s no choice you now know, the Purple Dot raised $4 million for inventory software that addresses supply chain issues that help lot of its users all around the world.