Nuvo Secures $34M to Revolutionize B2B Trade with Social-Like Platform

Nuvo, a San Francisco-based startup, has successfully raised $34 million in a Series A funding round led by Sequoia Capital and Spark Capital. The company aims to transform the way businesses purchase physical goods by offering a social-like platform designed for B2B trade.

Founded in 2021 by Sid Malladi (CEO) and Rameez Remsudeen (CTO), Nuvo provides businesses with a digital space to create profiles, share information, and connect with trade partners. “Think of it as a LinkedIn for B2B trade,” the founders explain. The platform addresses inefficiencies in the $11 trillion U.S. B2B trade industry, which still relies heavily on outdated methods like faxes, emails, and phone calls.

Nuvo’s platform enables real-time verification of business identities, creditworthiness, and partner history, reducing fraud and administrative overhead. “By bringing B2B commerce online, Nuvo is enabling businesses to grow with confidence and security,” says Bryan Schreier, a partner at Sequoia Capital.

Unlike traditional SaaS tools, Nuvo operates as a network-driven platform, fostering connections between buyers and sellers. The company currently serves industries like alcohol & beverage, building materials, and manufacturing, with plans to expand into payments, AI, and international markets.

With 50,000 businesses expected in its network by Q2 2024, Nuvo is poised to redefine B2B commerce.