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INTURN
AI-powered excess inventory predictions
- 21-100 employees
- B2B
- Artificial Intelligence
- Fashion
- Supply Chain
- SaaS
- 22 W 19th Street, Floor 5 New York, NY 10011
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Company mission
INTURN's mission is to disrupt the way brands manage excess and slow-moving inventory.
Otta's take
Theo Margolius
COO of Otta
Fashion brands often struggle to estimate demand for new product lines, resulting in stagnant inventory that’s estimated to cost around $250 billion in lost revenue every year. Seeking to cut this wastage, INTURN’s platform helps brands to liquidate this excess inventory.
Headed up by experienced technology executives Ronen Lazar and Charlie Ifrah, it offers a two-sided marketplace where retailers can purchase off-season lines directly from brands.
INTURN has found a unique niche located at the top of the fashion food chain, an industry that struggles from a lack of technology and very slow and time-consuming, error-prone processes.
As an industry that is often under fire over its green credentials, the platform offers a way for fashion brands to reduce waste and boost sustainability. The company has raised over $30m from top-tier investors, including the B Capital Group, Facebook co-founder Eduardo Saverin’s venture firm.
Benefits
- 18 vacation days and unlimited sick days. After 4 years, we reward your tenure with a one-month sabbatical
- Equity
- $200 each month for wellness programs and $800 each year for professional growth
- 3 months parental, adoption, and surrogate leave with full coverage
- Work from home opportunities
- Full medical, dental, and vision health coverage
Company values
- Humility
- Excellence
- Respect
- Collaboration
- Transparency
- Creativity
Funding (last 2 of 7 rounds)
Aug 2020
$30.9m
LATE VC
Jan 2019
$8.6m
SERIES B
$79.2m
Total funding
This company has top investors
Founders
Charlie Ifrah
(Chief Product Evangelist)Previously founded Solutions Exec and co-founded CharityBids.
Ken Seiff
(Member of the Board of Directors)Previously founded Pivot Rules and Bluefly and co-founded Glowcast Ventures and Poppin. Current Member of the Board of Directors at Brickwork, Automaton, Kule LLC and Simply Gum.
Ronen Lazar
(CEO)Co-founded Charity Bids and was a contributor at Forbes for 3 years. Current Advisor for Backbone PLM, RADAR, and Browse, and is an OU Impact Accelerator Mentor.