Victory Park Capital provided a $100 million credit facility to Juvo+, a private label product developer in e-commerce. Juvo+ will use the funding to launch new products and fund strategic expansion as it continues to scale its footprint across multiple e-commerce channels.
Leveraging data and machine learning, Juvo+ identifies opportunities to develop and bring thousands of unique products to market each year. Since its founding in 2013, Juvo+ has become one of the ten largest third-party sellers on Amazon, Walmart and Target, offering a diverse set of products such as party supplies, home goods, and arts and crafts.
The founders of Juvo+ are serial entrepreneurs having started MeziMedia (acquired by ValueClick) and Kitchen United (backed by Google Ventures and Fidelity). Its senior management team has extensive e-commerce experience, having previously worked for platforms including 1-800-Flowers, Shopzilla and Yahoo!.
“VPC’s support will bring with it a new stage of growth for us,” Steve Neufer, CEO of Juvo+, said. “With this funding, we will be able to accelerate our highly efficient and technology-enabled product development efforts and our already meaningful channel diversification. We welcome this partnership with an established leader in e-commerce financing.”
“Juvo+ has proven its ability to effectively scale and succeed in the competitive e-commerce landscape,” Tom Welch, partner at Victory Park Capital, said. “We’re excited to partner with Steve and his team as they continue to develop, launch and scale innovative consumer products.”
