The survey of 1,500 shoppers identified the importance of date commitments to the delivery experience, the need for retailers to provide proactive shipment updates, and the expectation that retailers will resolve shipping issues (as opposed to carriers) and provide more convenient customer self-service options, as top priorities.Read more
Just ahead of the holiday season, simplified carrier collaboration and customizable shipping alerts are available to help businesses take steps toward shipping communication and proactive resolution.Read more
Investment Will Accelerate Move into New Verticals and Global Supply Chain Market
AUSTIN, Texas– Convey, the customer-centric delivery platform, today announced $8.25 million in Series B funding from Techstars® Venture Capital Fund, RPM Ventures and other investors. This latest round brings total funding to $15.75 million, and will be used to expand innovation and execution in product development, engineering and customer success, and to pursue new market opportunities beyond retail.
“This latest funding will allow us to pursue new opportunities that help the world’s largest retailers, manufacturers and 3PLs reinvent and grow their businesses.”
Convey has already exceeded total bookings from 2016, representing a 340 percent year-over-year increase to-date. The company’s customers include Build.com, BuildDirect, Power Equipment Direct, ShoppersChoice.com, and Vitalize, among others.
Convey also signed an agreement with Ingram Micro Commerce & Fulfillment, a leading global commerce and logistics provider, to integrate its Convey Engage and Convey Initiate products with Ingram Micro Commerce & Fulfillment’s First and Final Mile solution.
The relationship extends Convey’s customer delivery focus beyond retail into new verticals, while providing end-to-end supply chain visibility and management from international points of origin to final mile delivery. Early adopters of the solution have already realized improved insight and control over in-transit shipments, enabling them to proactively manage exceptions and provide consistent, positive delivery experiences.
“Convey continues to exceed expectations in developing innovative solutions that help retailers and 3PL providers improve delivery outcomes,” said Jason Seats, managing partner at Techstars Venture Capital Fund, who is joining the Convey board. “Their impressive bookings growth and continued customer momentum demonstrate the high-demand for visibility and delivery management solutions that connect the dots between customers, shippers and carriers.”
“The need to reduce operating and support costs, enhance decision-making, and synchronize processes across functions are critical drivers for supply chain technology investment today,” said Tony Grover, Managing Director at RPM Ventures. “Convey understands how to turn these challenges into advantages for their customers, and we look forward to working with them as they expand their focus to new markets.”
Year-to-date company highlights include:
- Bookings growth: 340 percent increase in new bookings, and 157 percent growth in new customers year-over-year through August 2017.
- Product expansion: First to final mile supply chain visibility and delivery management targeting new markets including construction and building materials, medical devices, and pharmaceuticals.
- Company growth: Employee count on track to double by the end of the year, with key hires in engineering, product, sales and customer support (learn more).
- Industry accolades: Supply & Demand Chain Executive SDCE Top 100 supply chain project, in collaboration with Build.com; Austin A-List winner for being one of Austin’s hottest startups and innovators; Austin Chamber of Commerce Greater Austin Business Award finalist for Innovation.
In addition, Convey’s industry insights tracker continues to capture some of the most detailed and valuable customer delivery intelligence in the market. More than 448,000 exceptions – or issues during the shipping process – have been collected and analyzed and over 127,000 shipments having been escalated for action and resolution. Data shows that customers using Convey’s solutions realize a 5X increase in visibility into shipment exceptions and an 11 percent average savings on freight costs. These figures represent significant potential across the company’s growing network of global customers.
“Our early momentum in 2017 is a direct result of the shifting tide in today’s supply chain operations – from a core focus on cost efficiency to customer-centric decisions designed to create better outcomes,” said Rob Taylor, CEO of Convey. “This latest funding will allow us to pursue new opportunities that help the world’s largest retailers, manufacturers and 3PLs reinvent and grow their businesses.”
Convey enables businesses worldwide to take control of shipping and delivery. Our cloud-based platform connects disparate data and processes, giving shippers the insight to make smart decisions, and the tools to take action. From parcel to freight, and first to final mile, Convey helps the world’s largest brands create better delivery outcomes while reducing costs, improving visibility and transforming transportation into their next competitive advantage. Founded in 2013, Convey is based in Austin, Texas, and is part of the Techstars Class #38. Learn more at: www.getconvey.com.
Techstars helps entrepreneurs succeed. Through the Techstars Worldwide Entrepreneur Network, founders and their teams connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporate partners who will help their companies grow. Techstars operates four divisions: Techstars Startup Programs, Techstars Mentorship-Driven Accelerator Programs, Techstars Corporate Innovation Partnerships, and the Techstars Venture Capital Fund. Techstars Mentorship-Driven Accelerator Program supercharges success and Techstars Startup Programs inspire, educate and connect entrepreneurs. Techstars Venture Capital Fund invests in the most innovative and disruptive Techstars companies to fuel their success. Techstars Corporate Innovation Partnerships helps brands create world-changing products and services. Techstars accelerator portfolio includes more than 1,000 companies with a market cap of $9.7 billion. www.techstars.com.
About RPM Ventures
RPM Ventures, founded in 2000, is a seed and early stage venture firm with over $200 million in asset under management. RPM’s investments and deep partnerships with entrepreneurs reflect the team’s roots in the innovative culture of Silicon Valley and the work ethic and core values of the Midwest. The firm focuses on investing in B2B Enterprise Solutions, Marketplaces (emphasis on Insurance and Fintech) and has a specialty in the Automotive and Transportation sector, including: Autonomy, Connected Car, and Mobility. RPM’s invests across all geographies within the United States and has operations in both Silicon Valley and the Midwest.
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Cybele Diamandopoulos, 512-535-4422
Convey, the leading customer-centric delivery platform, and eft Supply Chain & Logistics Business Intelligence announced the results of a retail study examining the importance of customer experience (CX) in final-mile delivery, and the impact of CX on supply chain performance and decision-making.
The report also includes expert commentary from Willis Weirich of Neiman Marcus, Kevin Scott of Build.com, Joseph Bobko of Boxed Wholesale, and Jim Hourigan of BuildDirect on how they approach the challenges and opportunities of digital disruption in today’s retail supply chain operations.Read more
Convey, the leading customer-centric delivery platform, announced a new self-service customer portal that makes it easier for shoppers to request and schedule pick-up of large-item returns online. The new features are part of Convey’s Initiate hosted shipment execution tool that helps retailers dynamically optimize carrier selection and process return requests more efficiently. Living Direct has already seen a 34% average cost savings on freight returns using Convey’s Initiate solution. The company hopes to achieve even greater efficiencies with Convey’s new customer-facing tools.Read more
Convey, providers of the first enterprise platform focused exclusively on the end-to-end customer delivery experience, today announced the launch of its Engage product, an all-in-one logistics command center for managing in-transit shipments.
Analysis across Convey’s client base has found as many as 8-12% of shipments will have a carrier-reported issue and roughly 25% of these issues are actionable. Through Engage, retailers gain the ability to proactively solve these shipment issues before customers ask, saving the retailer money and improving the customer experience.Read more
Convey, providers of the first enterprise solution focused exclusively on the end-to-end customer delivery experience, today announced it has raised $4.5 million in Series A funding. $3.6 million from existing investors closed June 15th, and an additional $0.9 million, largely from new investors, will close by the end of July 2016.
This $4.5 million round brings the total amount of funding raised so far to $6.9 million. The round is led by Silverton Partners with participation from Techstars Ventures, Capital Factory and Corsa Ventures.Read more
Convey, providers of the first enterprise solution focused exclusively on the end-to-end customer delivery experience, today announced the launch of their Intelligent Fulfillment Platform and selection by leading retailers such as Jet.com, Build.com, and Living Direct at the inaugural Shoptalk conference in Las Vegas.
Results across Convey’s client base include 11% average reduction in freight spend, 22% reduction in average final-mile delivery time for large items, and 5x improved visibility into shipment exceptions.Read more
Convey, formerly Pivot Freight, the platform automating inbound supplier transportation for some of the world’s leading retailers and manufacturers, announced the appointment of Chris Richter as VP Revenue and Olivier Modica as VP Engineering. Both of these executives have deep and successful track records building companies through early growth stages.Read more