Optoro, the D.C. tech startup focusing on providing software to assist retailers in increasing revenue by liquidating overstocked and returned merchandise, announced today that it's moving to a new home in Chinatown. The 13,000 sq. foot space will be home to Optoro's technology, finance, marketing, customer service and business development operations, according to a press release.
This news comes on the heels of a huge $23.5 million Series B round of funding closed in July led by Revolution LLC and Grotech Ventures, which it has been using to expand its companybase to more that 150 people and advance its OptiTurn marketing platform.
This will officially be Optoro's first office inside the actual District, whereas the previous corporate headquarters was in Lanham, Md. Therefore – and especially since co-founders Tobin Moore and Adam Vitarello both call D.C. their hometown – this calls for celebration. This evening there will be a special, invite-only ribbon cutting at the new H Street office space, featuring appearances and remarks by Mayor Vincent C. Gray, Councilmember Jack Evans and Revolution Growth Co-founder Ted Leonsis.
“We welcome Optoro to the District of Columbia,” said Mayor Vincent C. Gray in the press release. “Their presence in the city will afford the company access to elite and expanding technology talent and resources. The District is well on its way to becoming the largest technology hub on the east coast and companies like Optoro are helping to make that vision a reality.”
