Nuvo, a network for B2B trade, has nabbed $34M from Sequoia and Spark Capital

Nuvo, a company that has built a social-like platform to facilitate easier purchasing of physical goods between businesses, has raised a $34 million Series A from Sequoia Capital and Spark Capital, it tells TechCrunch exclusively. The San Francisco-based startup previously raised $11 million in an undisclosed seed round led by Founders Fund and Index Ventures in early 2022. Other institutional backers include Foundation Capital, Human Capital, and Susa Ventures. Angel investors Gokul Rajaram, Instacart founder Max Mullen, Rippling COO Matt MacInnis, Samsara founders Sanjit Biswas and John Bicket and Flexport founder Ryan Petersen, among others, also have written checks into Nuvo. Sid Malladi, CEO and co-founder, started Nuvo in 2021 with CTO Rameez Remsudeen to give businesses a way to create profiles they can share with trade partners. Think of it as a LinkedIn for B2B trade. The purchase of physical goods, such as lumber and electronic parts, by businesses, along with the credit ... Read full article.