AUSTIN, Texas – June 29, 2016 – 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.
Convey’s leadership team includes Rob Taylor, CEO; Dan Bebout, founder and VP of customer experience; Chris Richter, VP of revenue; and Olivier Modica, VP of engineering. Taylor and Richter bring prior experience from their years with BlackLocus, a SaaS software company that provided price intelligence to retailers and was acquired by The Home Depot in 2012.
The delivery experience, particularly for large items, presents big hurdles for online retailers, and customer delivery has become the most critical and memorable part of the order lifecycle. As fulfillment costs continue to eat away at margins and shopper expectations continue to rise, retailers need a proactive, intelligent fulfillment solution to be competitive.
Convey provides the first enterprise solution focused exclusively on the end-to-end customer delivery experience, a huge pain point for retailers and shoppers. The company’s Intelligent Fulfillment Platform helps retailers deliver products to customers faster through advanced communication capabilities and optimized shipment decisioning. Customers include some of the world’s largest retailers such as Jet.com, Build.com and Living Direct. Convey’s platform allows them to unify their carrier ecosystem, identify problems before they happen and facilitate changes on-the-ground, in real-time.
Results across Convey’s client base include:
- 11% average reduction in freight spend
- 22% reduction in average final-mile delivery time for large items
- 5x improved visibility into shipment exceptions
- 153% more shipments being delivered on time or early
“Customer retention and satisfaction are critical priorities for online retailers. Our research shows that 70% of consumers will abandon a retailer after a single bad delivery experience. The Convey solution allows retailers to dramatically improve the entire fulfillment process,” said Rob Taylor, CEO, Convey. “This Series A funding round will allow us to continue developing our platform’s capabilities to help retailers provide their customers with exceptional customer delivery.”
Convey enables retailers to take control of the customer delivery experience. We provide the experience shoppers demand and the efficiency retailers require. Our cloud-based platform aggregates and normalizes disparate data across carrier, retailer and customer systems, giving retailers the insights they need to make smarter decisions and the tools required to take action to improve the customer experience. From parcel to freight and cart to door, Convey helps the world’s largest retailers reduce costs, improve visibility and transform the delivery experience into their next competitive advantage. Founded in 2013, Convey is based in Austin, Texas. Learn more at: www.getconvey.com.