Boston, MA – OrderMotion, Inc., an award-winning provider of an on-demand direct commerce solution for multi-channel merchants, online retailers and direct marketers, today announced that it has secured a US$2.5 million venture loan from MMV Financial Inc (“MMV”).
OrderMotion will use the proceeds from financing for expansion of its sales and marketing efforts to further target the rapidly expanding SMB e-commerce market. Over 300 customers utilize OrderMotion’s e-commerce platform, including Wolfgang Puck, NapaStyle, Healthy Pets, and Char-Broil.
“MMV recognized the value that our technology brings to the SMB e-commerce market” said Donny Askin, Chief Executive Officer of OrderMotion. “This investment will allow OrderMotion to expand our sales and marketing team and further increase our rate of growth.”
OrderMotion delivers an on-demand direct retail platform that enables merchants to achieve unprecedented growth. By automating back-office operations, OrderMotion allows multi-channel merchants to focus on running and growing their businesses.
“We are excited about the large opportunity that exists in the SMB market”, said Marc Pavlopoulos, Senior Vice President, MMV Financial Inc., “OrderMotion understands the online e-commerce space and has the right technology and management team to address the opportunity. Additionally, we believe that their business model (Software as a Service) is ideal for the customers they are targeting”.
The Company is venture-backed, led by Updata Partners. Updata specializes in e-commerce, software as a service (SaaS), and SMB investments. Capital Resource Partners is also an investor.
About OrderMotion Inc.
OrderMotion, with offices in Boston, New York and Toronto, provides an on-demand direct commerce solution for e/businesses, direct marketers and multi-channel retailers. The Company’s software service enables merchants to easily process customer orders for multiple brands, from any channel, without costly, up-front investments in staff, software and infrastructure. OrderMotion has supported the growth of over 1000 brands, including Zabar’s, Wolfgang Puck, Goldspeed.com, Warrior Custom Golf, Sundance Spas, e-Diamonds, Healthy Pets, Metro Kitchens, NapaStyle and more. For more information about OrderMotion, please visit http://www.ordermotion.com/,
About MMV Financial Inc.
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, NewStar Financial, Inc., and Wells Fargo Company. For more information visit www.mmvf.com,
Senior Vice President
MMV Financial Inc.