What does Nuvo do?
Nuvo provides a network that accelerates modern B2B trade by offering instant access to essential trust signals such as verification status, creditworthiness, banking information, and trade history, enabling businesses to forge new partnerships quickly and scale effectively.
How much did they raise?
The company raised $45M in a funding round, with lead investors including Sequoia Capital, Spark Capital, Founders Fund, Index Ventures, Human Capital, Foundation Capital, and Susa Ventures, and participation from notable angel investors such as Gokul Rajaram, Max Mullen, Matt MacInnis, Sanjit Biswas, John Bicket, Varun Anand, Eugene Marinelli, Rosco Hill, Ryan Petersen, and Ali Rowghani.
What are their plans for the money?
Nuvo intends to use the funds to deepen its presence in core markets like alcohol and beverage, building materials, chemicals, food service, distribution, and manufacturing, while also exploring new verticals. This expansion is expected to enhance the efficiency of B2B trade by broadening access to vital business data and fostering new partnerships.
What have they achieved so far?
Founded in 2021 by Sid Malladi and Rameez Remsudeen, Nuvo has already made progress by integrating identity, connectivity, and trade data into a single platform, facilitating faster scaling and reduced risk for businesses.
