Nuvo, a San Francisco-based startup, has secured $34 million in Series A funding to grow its fast-growing B2B trade network. Backed by Sequoia Capital and Spark Capital, the company is building a social-style platform that helps businesses trade more easily, verify partners instantly, and reduce fraud.
This new investment follows an earlier $11 million seed round supported by Founders Fund and Index Ventures. Other investors include Foundation Capital, Human Capital, and Susa Ventures. Angel backers like Gokul Rajaram, Max Mullen of Instacart, Rippling’s Matt MacInnis, and Flexport’s Ryan Petersen have also joined the table.
Co-founders Sid Malladi and Rameez Remsudeen started Nuvo in 2021. Their goal? Replace outdated systems like emails, phone calls, and faxes with a faster, more reliable way to connect trade partners. Malladi, a former Yelp product manager, says traditional processes can’t keep up with today’s fast-changing trade environment.
Nuvo lets users build verified business profiles. These profiles include credit data, licenses, FICO scores, and references. Sellers can invite buyers, and those buyers can then connect with more sellers—creating a growing network. Each new user strengthens the entire platform.
As more companies join, Nuvo becomes smarter. It collects rich data on trading activity, helping users spot trusted partners and avoid risks. Sequoia’s Bryan Schreier compared Nuvo’s network effect to early days at PayPal or Stripe. The more businesses sign up, the stronger and safer the network becomes.
Unlike other platforms like HighRadius, Nuvo isn’t just a tool—it’s a network. Remsudeen says the difference is like comparing a contact list to a social network. Nuvo helps businesses grow their trade relationships at scale.
Today, Nuvo serves about 42 employees and plans to connect 50,000 businesses by the end of Q2. Major names like Fender, Southern Glazer’s Wine & Spirits, and Great Dane are already using the platform. Nuvo charges an annual subscription fee for access.
The platform is already strong in sectors like manufacturing, alcohol and beverage, food service, chemicals, and distribution. Looking ahead, Nuvo plans to expand into more industries. It also plans to add AI-driven tools and payment features to enhance its offering. Global expansion is on the horizon, with Latin America, Europe, Mexico, and Asia-Pacific markets in focus.
With trade becoming more complex and risky, Nuvo offers businesses a simple way to adapt, connect, and grow with confidence.
