Optoro, a platform for returned and excess inventory, connecting buyers and sellers worldwide, announced that it has received a $40 million debt financing commitment from TriplePoint Venture Growth BDC, a non-bank venture debt provider, and Square 1 Bank. This investment brings Optoro’s total amount of money raised to over $100 million.

“We are excited to raise additional capital from two great new partners, TriplePoint Venture Growth BDC and Square 1 Bank,” said Tobin Moore, CEO and co-founder of Optoro. “This additional funding will help Optoro scale our operations and technology to support the world’s biggest retailers.”

Every year, over 15% of inventory is ultimately returned by consumers or deemed excess by retailers. In the U.S. alone, that totals a staggering $500 billion. Optoro’s technology helps retailers optimize the management of returned and excess inventory by processing, sorting, and selling these products in a much more efficient and cost-effective way. Working with some of the largest retailers in the US, Optoro’s software platform has enabled its clients to increase the recovery on such inventory by 50-200%.

“It has been a pleasure working with Tobin and Adam over the past few years and watching Optoro grow and materially disrupt the reverse logistics industry,” added Elizabeth Orsinger, vice president of Square 1 Bank’s Mid-Atlantic technology practice. “We look forward to continuing this relationship and serving their banking needs every step of the way.”

In December, Optoro closed a $50 million Series C funding. The funding round was led by Kleiner Perkins Caufield & Byers joined by Generation Investment Management with participation from existing investors Revolution Growth, Grotech Ventures and SWaN & Legend Venture Partners.