OpenStore Valuation, Funding & Investors

OpenStore is valued at $970M as of September 2022.

Last OpenStore valuation

$970M

Series B · Sep 2022

Last OpenStore funding round

$32M

Series B · Sep 2022

Cumulative funding OpenStore raised

$137M

across 3 funding rounds

Key investors in OpenStore

  • General Catalyst
  • Khosla Ventures
  • Founders Fund
  • Atomic
  • Lux Capital
  • Pareto Holdings

OpenStore Overview

About OpenStore

OpenStore is a Miami-based e-commerce acquisition platform that buys Shopify stores from merchants seeking liquidity. The company uses AI-driven valuation and provides instant offers to sellers, managing over 1,000 acquired brands with centralized operations and growth teams in the US.


Founded

2021

HQ

United StatesMiami, FL

Website

open.store

Status

Privately held

Customer focus

B2B

Revenue model

Investment management

Valuation

$970M (Sep 2022)

OpenStore Valuation

OpenStore is currently valued at $970M, based on its Series B in September 2022.

The $32M round was led by Lux Capital, with participation from Vine Ventures.

OpenStore's valuation has grown 3.9x from $250M at its Series A in July 2021 to $970M in September 2022, across 3 priced rounds.

OpenStore valuation by funding round

OpenStore valuation by funding round
DateStageValuation
Sep 2022Series B$970M
Nov 2021Series B$750M
Jul 2021Series A$250M

OpenStore Funding History

OpenStore has raised a total of $137M across 3 funding rounds.

OpenStore's first fundraising round was a $30M Series A in July 2021. The most recent completed round was a $32M Series B in September 2022.

OpenStore funding rounds

OpenStore funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2022Series BLux Capital (lead); Vine Ventures$32M$970MOpenStore is a Miami-based e-commerce roll-up startup that acquires US-based direct-to-consumer brands with between $1 million and $10 million in gross merchandise volume on Shopify. The company is able to vet a business and make an offer within 24 hours, with plans to reduce that timeline to as little as one hour. OpenStore was founded in 2021 and has raised over $150 million in equity funding from investors including Atomic, Founders Fund, General Catalyst, Khosla Ventures, and Lux Capital. The most recent documented funding round was $32 million led by Lux Capital at a post-money valuation of $970 million, representing a 25% increase from a previous fundraise of $75 million. CEO Keith Rabois indicated this round was preempted after Lux Capital reached out. The company continues to rapidly acquire brands, with recent acquisitions including Jack Archer, Barn Chic Boutique, Yogaste, and Wearva. OpenStore was actively hiring across engineering, data science, design, marketing, and operations roles at the time of the announcement.
Nov 2021Series BGeneral Catalyst (lead); Khosla Ventures; Atomic; Founders Fund$75M$750MOpenStore is a Miami-based e-commerce startup that acquires and operates Shopify-based direct-to-consumer brands, providing instant cash offers to merchants and integrating them into its platform to scale operations using proprietary tech tools. Founded in 2021 by Keith Rabois and others, it targets US DTC brands with $1-10M in gross merchandise volume, aiming to vet and offer within 24 hours (with plans to reduce to one hour). The company positions itself as bringing 'algorithmic owner liquidity' to ecommerce, distinct from Amazon aggregators by focusing on Shopify stores with growth potential. On approximately November 17, 2021, OpenStore raised a $75 million Series B round led by General Catalyst, with participation from existing investors Atomic, Founders Fund, and Khosla Ventures, following a $30 million Series A in July 2021 led by Khosla. This brought total funding over $100 million at the time. Proceeds were earmarked for hiring engineers, designers, data scientists, and operators in Miami, as well as accelerating acquisitions after starting offers in July 2021. At the Series B announcement, OpenStore reported having acquired multiple stores generating tens of millions in combined revenue, signaling early traction in the aggregator model amid booming ecommerce. OpenStore's model drew investor interest for its disciplined approach and talent from firms like Google, Facebook, Opendoor, and Square. It planned aggressive scaling for 2022, acquiring brands like Jack Archer and Barn Chic Boutique. The aggregator sector saw $9B in funding by September 2021 but slowed to $2B in 2022; OpenStore bucked the trend with its 2022 raise. Later, by 2025, it sought Series C at a sharply reduced $50M valuation.
Jul 2021Series AAtomic (lead); Khosla Ventures (lead); Jon Oringer; General Catalyst; Edward Lando; Pareto Holdings; Jaws Ventures; Kyle Tibbitts; Nadav Ben-Chanoch; Founders Fund; Quiet Capital$30M$250MOpenStore is an e-commerce platform that acquires and operates direct-to-consumer brands, initially focusing on Shopify sellers with $1 million to $10 million in gross merchandise volume. The company was founded in 2021 by Keith Rabois, a serial entrepreneur and general partner at Founders Fund, and Jack Abraham, founder of venture capital firm Atomic, alongside former Apple, Facebook, and Opendoor engineer Matt Lanter and former Google engineer Jeremy Wood. In July 2021, OpenStore closed a Series A funding round that valued the company at $250 million. The company has grown significantly since its launch during the COVID-19 pandemic, with early investors including Atomic, Founders Fund, Khosla Ventures, and General Catalyst. By August 2022, OpenStore had raised over $150 million in total equity funding and achieved a valuation of $970 million in a Series B round led by Lux Capital, representing a 25 percent increase from the Series A. However, the company's valuation declined dramatically in subsequent years, dropping to $50 million in a 2025 Series C round—a 95 percent decrease from its 2022 peak—as the e-commerce aggregator market faced significant headwinds and the company refocused its strategy.

Who has invested in OpenStore?

13 investors have backed OpenStore across its funding rounds, including General Catalyst, Khosla Ventures, Founders Fund, Atomic, Lux Capital and Pareto Holdings.

Lead investors include Lux Capital, General Catalyst, Atomic and Khosla Ventures.


OpenStore Investors

Investors in OpenStore by funding rounds participated
InvestorHQRoundsRoleFirst check
General CatalystUnited StatesSan Francisco, CA2LeadJul 2021
Khosla VenturesUnited StatesSan Francisco, CA2LeadJul 2021
AtomicUnited StatesMiami, FL2LeadJul 2021
Founders FundUnited StatesSan Francisco, CA2ParticipantJul 2021
Jon OringerUnited StatesMiami, FL1ParticipantJul 2021
Edward LandoUnited StatesMiami, FL1ParticipantJul 2021
Pareto HoldingsUnited StatesNew York City, NY1ParticipantJul 2021
Jaws VenturesUnited StatesMiami, FL1ParticipantJul 2021
Lux CapitalUnited StatesNew York City, NY1LeadSep 2022
Vine VenturesUnited StatesNew York City, NY1ParticipantSep 2022
Kyle TibbittsUnited StatesSalt Lake City, UT1ParticipantJul 2021

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OpenStore Competitors

OpenStore competitors include listed companies like Hepsiburada and Bxn Holding, and private ones like HexClad, Rothy's, SellerX and Womai.

Public and private companies comparable to OpenStore
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
HepsiburadaTurkeyTurkeyPublicly listed$1.7B($51M)$957M0.3x
HexCladUnited StatesLos Angeles, CAPrivate--$1B-
Rothy'sUnited StatesSan Francisco, CAPrivate$211M-$1B4.7x
SellerXGermanyBerlinPrivate--$1B-
WomaiChinaBeijingPrivate--$1B-
Bxn HoldingChinaChinaPublicly listed$771M$100M$836M0.8x

OpenStore Public Comps

OpenStore is still privately-owned, but its public comps include Hepsiburada, Jumia Technologies AG, Moonpig Group, Brainbees Solutions, Boozt, Chancemate, Bxn Holding, CEWE Group, Apotea and GoodRx.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Hepsiburada$1.7B($51M)0.5x0.3x(15.8x)28.7x
Jumia Technologies AG$189M($51M)4.8x4.2x(17.8x)(26.4x)
Moonpig Group$501M$140M2.3x2.3x8.2x8.2x
Brainbees Solutions$866M$29M1.1x1.0x31.8x23.1x
Boozt$845M$71M1.1x1.0x13.0x10.3x
Chancemate$160M$19M3.7x4.3x30.9x28.1x
Bxn Holding$771M$100M0.8x0.8x6.4x6.0x
CEWE Group$1B$160M0.8x0.9x5.3x5.3x

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Common questions about OpenStore

When was OpenStore founded?OpenStore was founded in 2021.
Where is OpenStore headquartered?OpenStore is headquartered in Miami, FL, United States.
Is OpenStore publicly listed?No, OpenStore is a private, VC-backed company.
What is OpenStore's valuation?OpenStore was last valued at $970M in its Series B in September 2022.
How much funding has OpenStore raised?OpenStore has raised $137M across 3 funding rounds.
What was OpenStore's last funding round?OpenStore's last funding round was a $32M Series B in September 2022, led by Lux Capital.
Who are OpenStore's investors?OpenStore's investors include General Catalyst, Khosla Ventures, Atomic, Founders Fund, Jon Oringer, Edward Lando, Pareto Holdings, Jaws Ventures, Lux Capital, Vine Ventures and 3 others.
Which companies are comparable to OpenStore?Companies comparable to OpenStore include Hepsiburada, HexClad, Rothy's, SellerX, Womai and Bxn Holding.

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