Gooten Closes $11M in Series A Funding
Gooten, a global provider of order management technology for on-demand manufacturing, announced today the closing of $11 million of Series A funding. The round was led by KEC Ventures, with participation from INX International, Tech Pioneers Fund, and other existing investors. As part of the round, Will Geiger of Touchdown Ventures will join Gooten as a board observer on behalf of INX International.
"As the on-demand industry continues to see rapid adoption, our Series A round positions Gooten to continue to deliver a best-in-class on-demand order management platform," said Brian Rainey, CEO. "This capital will allow us to continue in our mission to address the high costs and economic and environmental issues of traditional inventory-based merchandising by increasing the adoption of on-demand manufacturing. We are excited to partner with KEC Ventures and INX International, both of whom share our vision of disrupting the industry with technology-driven solutions."
Along with fueling customer growth, Gooten expects to expand its international capabilities, adding new fulfillment partnerships in strategic markets like Korea, Japan, India, Latin America, Brazil, and Western Europe. The company will also enhance its suite of technology tools and services, an offering that enables businesses to streamline their order management operations and tap into the immense potential of on-demand manufacturing. "The Gooten solution fills a unique gap in the market," says Maddy Alcala, President. "Order management technology has existed for over twenty-five years for the traditional pick-pack-ship fulfillment model. The Gooten team is bringing enterprise-grade software to the on-demand production industry and this capital raise accelerates our ability to deliver new functionality to our customers, helping them grow sales and streamline business operations."
"Gooten's innovative approach to order management aligns perfectly with our investment thesis," said Jeff Parkinson, Gooten board member and Partner at KEC Ventures. "The company's commitment to leveraging technology and creating seamless, efficient processes has allowed it to build the largest on-demand manufacturing network in the world by capacity, servicing the largest brands, merchandising platforms, and the creator economy. We are excited to support Gooten's growth as it continues to empower businesses with on-demand manufacturing capabilities."
The company's cloud native technology has already attracted a diverse range of customers, including Fortune 100 retailers, global creator and merchandising platforms, and high-growth independent brands.