Juvo+, one of the top private label product creators in e-commerce, has received a $100 million credit facility from Victory Park Capital, a worldwide alternative investment business. The funds will be utilised to introduce new items and fund strategic expansion as Juvo+ expands its e-commerce reach.
Every year, Juvo+ develops and markets thousands of unique products using data and machine learning. Juvo+, founded in 2013, is now one of the top 10 third-party vendors on Amazon, Walmart, and Target, selling items including party supplies, home goods, and arts and crafts.
Juvo+ was founded by serial entrepreneurs MeziMedia (bought by ValueClick) and Kitchen United (backed by Google Ventures and Fidelity). Its senior management team has worked on sites including 1-800-Flowers, Shopzilla, and Yahoo!
Steve Neufer, CEO of Juvo+, said VPC’s backing will help the company develop. Our extremely efficient and technology-enabled product development activities will be accelerated, as will our already significant channel diversification. We are excited to join with an industry leader in e-commerce financing.”
Victory Park Capital Partner Tom Welch said Juvo+ has proved its capacity to scale and flourish in the tough e-commerce industry. “We’re delighted to work with Steve and his team on new consumer products.”