Motor City Fastener buys Emco, an electrical and mechanical supplies distributor, and gains a presence in the Southeast.
OrderGroove, whose clients include distributor W.W. Grainger, says it will develop its technology to make online buying faster and easier.
Online subscriptions can bring steady revenue to sellers while freeing up buyers with automated purchasing. Now OrderGroove, a provider of e-commerce technology that powers online subscriptions, says it’s further developing its technology to make online shopping “frictionless.”
“The future of shopping is not shopping—it’s frictionless commerce,” CEO Greg Alvo says. “Why do shoppers have to go online to a shopping cart or to a store? We want to remove that inconvenience.”
OrderGroove, whose clients include such retailers, brand manufacturers and distributors as Wal-Mart Stores Inc., Nestlé and W.W. Grainger Inc., has received $20 million in a Series C funding round backed by National Securities, whose investment portfolio includes ride-sharing firm Lyft. OrderGroove’s total funding to date is $37 million.
Alvo says he’s not ready to provide specifics on new technology features and functionality OrderGroove is developing, but says it “will push the envelope for online subscriptions and non-subscriptions.” He adds that OrderGroove is particularly targeting how millennial buyers like to shop through any online or offline channel, and that it intends to develop new applications of data science and related technologies to help companies better understand what buyers want and how they want to make purchases. As such, it’s developing its technology platform at a time when online buyers are already using such new e-commerce purchasing options as pressing a Staples Easy Button or Amazon Dash Button to re-order products.
OrderGroove client W.W. Grainger is No. 35 in the B2B E-Commerce 300. Other clients include business supplies distributor and retailer ReStockIt.com Inc., No. 187 in the B2B E-Commerce 300, and Brady Corp., a distributor of business and industrial supplies.
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