Nuvo Raises $34M in Series A Funding

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a day ago

Summary

Nuvo, a B2B commerce platform, raises $34M from Sequoia and Spark Capital; aims to facilitate easier purchasing between businesses; claims to reduce fraud and administrative overhead.

Key Points

Nuvo allows businesses to create profiles and connect with trade partners, similar to LinkedIn for B2B trade.
The platform verifies user information in real-time and provides access to credit reports, FICO scores, and license verifications.
Nuvo currently has 42 employees and plans to expand into new verticals, features like payments and AI, and internationally.

Why It Matters

Nuvo's funding highlights the growing need for modern B2B commerce platforms that can facilitate efficient purchasing and reduce administrative overhead.

Author

Mary Ann Azevedo

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