Optoro
| Company type | Private |
|---|---|
| Industry | Reverse logistics, Software |
| Founded | 2004 |
| Founder | Tobin "Toby" Moore |
| Headquarters | Washington, D.C. , United States |
Key people | Tobin "Toby" Moore (Founder), Adam Vitarello (President and Chief Strategy Officer), Jessica Szmajda (CTO) |
| Products | OptiTurn software platform, BLINQ online marketplace, BULQ.com liquidation platform |
Number of employees | 160 (2016) |
| Website | optoro |
Optoro is a technology firm specializing in reverse logistics, collaborating with retailers and manufacturers to handle and resell returned and surplus products. Its inventory spans consumer electronics, home furnishings, and apparel, which are automatically listed across online platforms such as Amazon, eBay, Buy.com, and BestBuy. Additionally, Optoro facilitates bulk merchandise liquidation through its exclusive platform.
History
Optoro originated in 2004 under the name eSpot Deals, founded by entrepreneur Tobin "Toby" Moore during his time at Brown University. Initially operating out of Moore's attic, the company soon launched a 1,200-square-foot retail location in Georgetown. Early team member Adam Vitarello, now serving as president and Chief Strategy Officer, joined shortly after inception. The business introduced one of Washington, D.C.'s pioneering eBay drop-off stores and expanded in 2008 by establishing an office and warehouse facility in Lanham, Maryland to manage retailer inventory.
In 2010, the company rebranded to Optoro, Inc., shifting its focus toward delivering technology-driven solutions for managing returned and excess stock. CTO Jessica Szmajda was brought on board to lead the development of these technological capabilities. By 2013, Optoro relocated its headquarters to a 13,000-square-foot space in downtown Chinatown, Washington, D.C., followed by another move in 2016 to a larger Metro Center office designed to accommodate approximately 160 employees.
In February 2021, Optoro discontinued its direct-to-consumer eCommerce platform blinq.com to concentrate exclusively on its primary B2B software services.
Products and services
The core offering from Optoro is its software-as-a-service solution called OptiTurn. This platform operates within retailers’ distribution centers to efficiently sort, process, and resell returned and surplus merchandise. It monitors product conditions—such as new, open box, refurbished, or used—and leverages data analytics to channel items toward the most lucrative resale avenues. Options for disposition include direct sales to consumers, wholesale transactions, vendor returns for refurbishment, donations, or recycling.
OptiTurn automatically posts high-value items on various online marketplaces under the BLINQ brand name. Meanwhile, bulk goods are marketed through BULQ.com, maximizing recovery value for retail clients. This approach enhances market reach by simplifying reverse logistics operations and increasing revenue generated from returned products.
Environment
In 2015, Optoro formed a dedicated sustainability team tasked with evaluating the environmental effects of retail returns and quantifying how its solutions contribute to reducing retailers’ carbon emissions. This program supports corporate social responsibility objectives while reinforcing Optoro’s leadership in sustainable supply chain practices.
Financing
Optoro’s funding trajectory demonstrates robust investor trust and strategic expansion backing. In July 2013, the company raised $23.5 million in Series B financing led by Revolution LLC—established by AOL pioneers Steve Case, Ted Leonsis, and Donn Davis—alongside Grotech Ventures and SWaN & Legend Venture Partners. These funds accelerated product innovation and market growth.
December 2014 marked a $50 million Series C round spearheaded by Kleiner Perkins Caufield & Byers (KPCB) through its Green Growth Fund with participation from Generation Investment Management, co-founded by Al Gore. This capital supported enhancements to Optoro’s technology platform and scaling operations.
In July 2015, Optoro secured $40 million in debt financing from TriplePoint Venture Growth and Square 1 Bank aimed at expanding software features and broadening its client base.
The company completed a $30 million Series D funding round in December 2016 with investments from UPS, Revolution Growth, KPCB, Generation Investment Management, Tenfore Holdings, SWaN & Legend Venture Partners, and the Maryland Venture Fund. This financing bolstered global expansion efforts and reinforced strategic logistics partnerships.
Awards
- Ranked No. 278 in Deloitte's Technology Fast 500 in 2013
- Secured No. 229 position in Deloitte's Technology Fast 500 for 2014
- Achieved No. 308 rank on Deloitte's Technology Fast 500 list in 2015
- Tobin Moore and Adam Vitarello named among Washingtonian's Top 100 Tech Leaders in 2015
- Placed No. 38 on CNBC's Disruptor 50 list in 2015
- Tobin Moore and Adam Vitarello honored as Ernst & Young's Greater Washington Entrepreneurs of the Year (Emerging Growth) in 2015
- Awarded the Ecolab Prize for Circular Economy Enterprise by the World Economic Forum in 2016
- Ranked No. 266 on Deloitte's Technology Fast 500 list in 2016