Optoro Adds Tony Nader, Vice Chairman of NEWAsurian, to Board; Secures Series B Extension

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Nader's deep knowledge of retail industry is perfect fit as Optoro continues to grow

Optoro, Inc.

It has been a busy and successful year for Optoro and the funding that we’ve secured escalates the pace with which we can transform the reverse logistics market. - CEO, Tobin Moore.

Optoro, Inc., a technology company enabling retailers and manufacturers to increase revenue from returned and excess inventory, today announce that Tony Nader, Vice Chairman of NEWAsurion will join Optoro’s Board of Advisors. Nader is also Managing Director at Leesburg, VA-based SWaN & Legend Venture Partners; on the Board of Directors of the Fairfax, VA-based Inova Health System; a partner in Monumental Sports and Entertainment, the owner of the Washington Wizards, Capitals and Mystics, as well as the Verizon Center; and a partner in the Washington Nationals.

Nader has an extensive background in the retail industry and was instrumental in growing NEW at a compound growth rate of more than 20 percent per year for more than 20 years. Under Nader’s leadership, NEW became the world’s largest extended service provider for the consumer electronics and appliance industries. In 2008, Nader successfully merged NEW with Asurion to form NEWAsurion. Since that time, Nader has focused the organization on delivering high quality customer care, developing innovative solutions, creating strong client partnerships and on hiring, developing, and retaining extraordinary people, while wiring together the world's largest product care company.

In addition to Nader’s appointment to the Board, Optoro also announced today that it recently closed additional Series B funding from SWaN & Legend Venture Partners.

“I am excited to be joining Optoro’s Board and look forward to the opportunity to share my commerce-side experience with the company to continue to help them strengthen and scale,” said Tony Nader, Managing Director, SWaN & Legend. “Optoro is a natural fit for SWaN & Legend. Retail products and services and technology enabled-commerce are core to our portfolio and we have tremendous respect for their management team and the growth they’ve driven to-date.”

The additional investment received from SWaN & Legend will help Optoro scale its software as a service (SaaS) business and its OptiTurn marketing platform, which uses proprietary pricing algorithms and predictive analytics to drive the highest financial recovery possible for returned and excess inventory. OptiTurn provides automated dynamic pricing and posting on multiple online marketplaces, including Amazon, eBay, Buy.com, BestBuy and Optoro’s consumer-facing platform Blinq.com, cutting out unnecessary middlemen and enabling companies to sell directly to more than 500 million consumers.

"It has been a busy and successful year for Optoro and the funding that we’ve secured escalates the pace with which we can transform the reverse logistics market,” said CEO, Tobin Moore. “We are pleased to welcome Tony to our Board. His deep knowledge of the retail industry, sustained corporate growth and experience building exception teams will be a tremendous asset as we grow Optoro.”

About Optoro

Founded in 2008, Optoro’s mission is to be the leading market solution for returned and excess goods, providing superior value for buyers and sellers across the world. Through their cloud-based, multi-channel selling technology, online remarketing expertise, and full suite of business intelligence tools, they offer their clients the optimal solution for managing and selling their returned and excess inventory. Since its founding, Optoro’s focus has been on using cutting edge technology and access to the world’s online marketplaces to drive higher recovery rates, quicker turn-times, and more transparency for their client’s goods. Optoro can be found online at http://www.optoro.com.

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Jennifer Edgerly
SpeakerBox Communications
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