Ghost Raises $40 Million to Expand B2B Marketplace for Surplus Inventory
Ghost has raised $40 million in a Series C funding round to continue expanding its members-only business-to-business (B2B) marketplace that connects brands and retailers and facilitates the buying and selling of surplus and wholesale inventory.
The company will use the new funding to “build on our momentum and capitalize on a number of compelling product and geographic expansion opportunities,” Ghost Co-CEO Josh Kaplan said in a Tuesday (Oct. 15) press release.
“We are highly focused on advancing our mission to be the most trusted inventory solution for the world’s best brands,” Kaplan said. “Ghost has continued to grow and expand our focus to be the true partner of choice for leading brands and retailers looking for efficient inventory management and channel opportunities.”
Ghost’s 6,000 members include brands and retailers in apparel, footwear, beauty, home goods and other categories, according to the release.
The company’s platform enables brands to enter new channels and geographies by connecting them with vetted buyers around the world who are looking for surplus and wholesale inventory, the release said.
Since completing its Series B funding round in August 2023, Ghost has scaled its platform through investments in infrastructure, artificial intelligence (AI) and international expansion, per the release.
L Catterton, which led the company’s Series C round, has found that Ghost’s customers “love the platform’s user-friendly interface, advanced matching technology and ability to maintain brand control over where their products end up,” Ian Friedman, partner and managing director in L Catterton’s Growth Fund, said in the release.
“After seeing such demonstrable customer love for Ghost as a trusted partner and high dependence on the platform, we had a strong desire to partner with the Ghost team to solve the massive pain points facing companies in managing surplus inventory and see tremendous opportunities ahead for the business,” Friedman said.
L Catterton’s global network and expertise in retail, technology and sustainable growth will support Ghost’s continued expansion, Ghost Co-CEO Dee Murthy said in the release.
“We are confident this partnership will allow us — and most importantly, our members — to unlock new opportunities while positioning Ghost for long-term success,” Murthy said.
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