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§ Venture Capital · Australia
B2B marketplace for fashion, beauty, home goods brands/retailers to buy/sell excess inventory. Data analytics for pricing, logistics.
Ghost is an international B2B marketplace operating across the United States, Europe, and Asia that enables fashion brands and retailers to discreetly buy, sell, and dynamically price excess inventory. The platform utilizes a proprietary data analytics engine to manage optimal pricing, volume forecasting, and end-to-end logistics for surplus apparel, footwear, beauty, and home goods. The company has scaled its operations to over 100 employees and recently reported a 500 percent year-over-year increase in uploaded inventory alongside a tenfold increase in its gross merchandise value run rate. Ghost has raised $95 million in total venture funding to date, including a $40 million Series C round backed by prominent lead investors such as L Catterton, Union Square Ventures, and Cathay Innovation. The organization was officially founded in 2021 by co-founders Dee Murthy and Josh Kaplan.
The firm focuses on early-stage companies, specifically targeting Seed and Seed extension investment rounds.
Yes, Ghost VC was an investor in Operata's Series A round, which was led by Tidal Ventures and included other participants like Glitch Capital and Black Nova Venture Capital.
The firm focuses on early-stage companies, specifically targeting Seed and Seed extension investment rounds.
Yes, Ghost VC was an investor in Operata's Series A round, which was led by Tidal Ventures and included other participants like Glitch Capital and Black Nova Venture Capital.
The core of Ghost VC's investment thesis lies in supporting B2B SaaS and B2B2C software businesses. This specialization allows the firm to focus on companies developing scalable software solutions for other businesses or for consumer-facing platforms that leverage a business intermediary.
Geographically, Ghost VC maintains a strong focus on Australia, actively seeking out and investing in companies based within the country. This regional specialization enables the firm to leverage local market insights and networks to support its portfolio companies.
In terms of investment stage, Ghost VC primarily engages in Seed and Seed extension rounds. This indicates a preference for early-stage companies that are typically past the initial ideation phase but are still in the process of scaling their product and market presence.
An example of Ghost VC's investment activity includes its participation in the Series A funding round for Operata. In this round, Ghost VC joined other investors such as Tidal Ventures, Glitch Capital, Black Nova Venture Capital, and Flying Fox Ventures, demonstrating its involvement in supporting the growth of Australian tech ventures.
Ghost VC has 1 tracked investment across 1 company. The latest tracked deal is $11.0M Series A in Operata in February 2026.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Feb 9, 2026 | Operata | $11.0M Series A | Tidal Ventures | Black Nova Venture Capital, Flying FOX Ventures, Glitch Capital |