NuORDER’s Skuza, Imaginary’s Massenet, Greycroft’s Wheeler and Cowboy Ventures’ Lee

From our Women's PE Briefs - week commencing June 7, 2021

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NuORDER, Inc., whose co-founder and co-CEO is Olivia Skuza, and whose backers include Imaginary’s Natalie Massenet, Greycroft’s Ellie Wheeler and Cowboy VenturesAileen Lee, is being purchased by a publicly traded company. NuORDER, a marketplace for businesses and suppliers, agreed to be acquired by Lightspeed for approximately $425 million. The purchase price consists of $212.5 million cash and the issuance of subordinate voting shares in the capital of Lightspeed valued at approximately $212.5 million. Lightspeed, a one-stop commerce platform for merchants, is also acquiring Ecwid, an e-commerce platform for $500 million. (See Dish on the Deal).

Based in Los Angeles, NuORDER has developed a solution that enables brands to communicate and transact with wholesale buyers. Olivia founded the company in 2010 with Heath Wells. It currently serves more than 100,000 retailers and generated revenue of more than $20 million for the 12-month period ending March 31. Lightspeed said the acquisition will enable it to provide a bridge between the merchant and supplier experience, simplifying product ordering for retailers and offering brands crucial insight into how their products move.

Earlier this year, Imaginary and Brighton Park Capital led NuORDER’s $45 million round with Natalie joining the board in conjunction with the financing. Aileen, according to Crunchbase, is also on NuORDER’s board while Ellie is an observer. All told, according to Crunchbase, NuORDER raised a total of $81.9 million. Its investors also include NewSpring, Upfront Ventures and Argentum.

Imaginary last year closed its second fund at $160 million. Natalie founded Imaginary with Nick Brown in 2017. The firm’s investments include Cann, which has developed cannabis-infused social tonic; Mejuri, a direct-to-consumer jewelry brand co-founded by Noura Sakkijha; Universal Standard, a woman’s fashion brand co-founded by Polina Veksler and Alexandra Waldman; HUM Nutrition, a beauty nutrition company; and Daily Harvest, a food subscription service founded and led by Rachel Drori. Natalie also founded Net-A-Porter, a luxury fashion online retailer. She served as executive chair of the company until September 2015 when she stepped down following Net-A-Porter’s merger with YOOX.

Ellie is a partner with Greycroft, which last year closed its sixth early-stage fund at $310 million and its third growth-stage fund with more than $368 million. Ellie’s portfolio includes Boost Insurance, Octave, Eden Health, Hubble, Flashpoint, BaubleBar, Blinkist, Cotopaxi, Cuyana, HealthReveal and Boulder Care, whose founder and CEO is Stephanie Strong and which is providing long-term support for people recovering from opioid use. Ellie is a past speaker at the Women’s Alternative Investment Summit.

NuORDER is the second portfolio company that Aileen has had acquired in recent months; LightStep, Inc. was purchased by ServiceNow. Aileen, who founded Cowboy, earlier this year backed The Landing, a home furnishing platform co-founded by Ellie Buckingham and Miri Buckland.

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