UK-based e-commerce startup Purple Dot raises Euro 3.5 million in the latest round

UK-based Purple Dot, a waitlist management platform, raised Euro 3.5 million on 24th December 2021.

Investors: The investment round was led by Unusual Ventures. Several existing investors Connect Ventures, Moxxie Ventures, and the family office of Indeed co-founder Paul Forster also participated. However, the investment round is still undisclosed by the startup.

Purpose of funding: Funds raised from this round of funding will be used for further product development, scaling business operations, and hiring new talent. Sustainable shopping will become a norm with this round of financing for the startup.

About the Purple dot

Founded in 2019 by John Talbott and Madeline Parra, Purple Dot is located in London, UK. Purple Dot is a waitlist management platform. Using the startup, brands can sell products before they arrive at warehouses by setting up pre-sales lists and restocking waitlists. This helps improve sales rate, reduce waste and manage demand. The concept of a waiting list enables inventory to be sold even before it arrives at the warehouse, from pre-orders to out-of-stock management, all geared towards improving the customer experience. The company allows for pre-order customer flow, manages pre-orders, and offers advance payout products to brands earlier access to cash flow. Purple Dot allows customers to cancel or check delivery dates directly before orders are not included in the brand’s existing order management system until the stock arrives at the warehouse.

Furthermore, the startup’s solution eliminates the need to overproduce items and destroy stock, thus reducing waste and helping the environment. This is especially relevant today when companies rely more heavily on pre-orders to maintain product launch schedules, highlighting the global supply chain crisis. Therefore, brand loyalty, sustainability, and supply chain improved as well.

What the founder has to say

“By selling earlier, brands open up a whole new window to capture sales. The legacy mindset and technology assumes you need inventory in the warehouse to sell it. But with Purple Dot, you can always be selling because selling and shipping can be asynchronous. This is the “A-ha” moment for our brand partners. To get a sell-earlier strategy right, you need a dedicated approach that gets the customer experience and internal tooling right. We’re excited to be pioneering waitlist shopping as the solution to selling earlier and providing e-commerce brands with a platform to re-imagine when, how, and what they sell,” said Madeline Parra, CEO and co-founder at Purple Dot.

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