By Pamella de Leon / Entrepreneur Middle East - Image Credit: OfficeRock.com
A boost for the B2B e-commerce market, office supplies platform OfficeRock.com has raised an undisclosed amount from investors Enabling Future, Wamda Capital, Jabbar Internet Group, WOMENA, Camac Partners, and several angel partners. The startup had initially raised US$500,000 in a seed funding round with the same investors in April 2016. Launched in 2011, OfficeRock.com was founded by Christopher Queitsch along with Rami Al Saleh, who noticed that the corporate supply market had a fragmented market, having a variety of supplies options, and thus decided to offer a one-stop solution to cover everything from stationary to cleaning materials, furniture and breakroom supplies on a single platform. Utilizing technology to ease the process between suppliers and corporate customers, and offering the convenience similar to B2C online shopping, the founders aimed to provide the same experience for B2B with OfficeRock.com, and tailored features to suit business needs such as approvals, budgets, and track spending.
After a partnership with Xerox Emirates in 2012, OfficeRock became an authorized reseller, followed by more partnerships, including National Stationary, a South Africa-based stationary wholesaler, as well as Aramex. Using capital from previous investment rounds, OfficeRock reinvested it in digital marketing and data analytics, which, according to the team, has enabled the startup to reach order sizes that is more than three times the industry average and now has a solid clientele including Souq.com, Aramex, British Petroleum, Zurich insurance and Abu Dhabi Ports, as well as a client retention rate that is almost double than the industry average.