New York, USA-based Gooten, a global provider of order management technology for on-demand manufacturing, Gooten raised USD 11 million in Series A funding. The round took place on July 5, 2023. KEC Ventures led the financing for the company. Meanwhile, INX International, Tech Pioneers Fund, and other existing investors joined in the funding.
As a part of the deal, Will Geiger of Touchdown Ventures intends to join Gooten as a board observer on behalf of INX International.
Purpose of financing for Gooten
With the latest financing, Gooten seeks to expand its international capabilities. It has plans to add new fulfilment partnerships in strategic markets. The company seeks to cover markets like Korea, Japan, India, Latin America, Brazil, as well as Western Europe.
The company further intends to 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.
What the company’s official has to add
Brian Rainey, CEO, said, “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. 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.”
Maddy Alcala, President, further said, “The Gooten solution fills a unique gap in the market. Order management technology has existed for over twenty-five years for the traditional pick-pack-ship fulfilment 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.”
What the investors have to say
Jeff Parkinson, Gooten board member and Partner at KEC Ventures, said, “Gooten’s innovative approach to order management aligns perfectly with our investment thesis. 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.”
About the company
Austen Bernstein, Micah Smith, and Nick Anderson launched the company in 2012. Gooten is a provider of an order management system to power on-demand production on a global enterprise scale.
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