Ecommerce / Investing

MentorTech Ventures joins massive $140M round for Penn grad’s Amazon competitor

Holy capital infusion, Batman. This comes shortly after the startup, Jet, announced a $55 million raise.

The plot to overthrow Amazon continues.
For a second time, MentorTech Ventures joined a slurry of high-profile venture firms investing in Amazon competitor Jet. Jet just closed a $140 million round, according to to a blog post by founder (and Penn grad) Marc Lore. The round was led by Bain Capital Ventures. That’s on top of the $55 million Jet raised last August, which MentorTech also participated in.
“This extra capital will help us accelerate our ability to deliver on our core promise of radical price innovation in e-commerce,” Lore’s blog post reads.
MentorTech is a venture firm based in University City that invests exclusively in Penn alumni.

Companies: MentorTech Ventures

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