Press Release (ePRNews.com) - CAMP HILL, Pa. - Aug 04, 2020 - ReturnLogic, a technology startup democratizing returns management for modern retailers, today announced it has raised $2 million in financing from Revolution’s Rise of the Rest Seed Fund, Amplify.LA, Cultivation Capital, SaaS Ventures, Stout Street Capital, SpringTime Ventures, and Ben Franklin Technology Partners.
“The e-commerce landscape is growing rapidly, creating a wealth of new infrastructure opportunities to assist retailers,” said Anna Mason, partner at Revolution’s Rise of the Rest Seed Fund. “Returns is one such opportunity and has become a battleground for today’s retailers who are exploring aggressive growth strategies. Revolution’s Rise of the Rest Seed Fund is excited to invest in technology that supports and enables data-driven retailers in today’s rapidly growing and evolving market.”
More than just a cost of doing business, returns offer brands a chance to reengage a shopper and discover friction points in the shopper’s journey. “E-commerce returns hit the bottom line and cannot be ignored. Giving shoppers a great positive post-purchase experience relies on a smooth transfer of customer, products, shipping, and partner data between systems. By automating these processes, we’re able to help retailers spend more time serving their shoppers and less time with manual processes,” said ReturnLogic Founder and CEO, Peter Sobotta.
Paul Bricault, Managing Partner of Amplify, explains, “Returns are complicated. Giving merchants the sophisticated returns management tool stack that was once only available to enterprise brands with big budgets is significant. ReturnLogic is able to come alongside game-changing brands and help them grow faster by optimizing their returns processes and enhancing the customer experience.”
This funding will further accelerate key initiatives to build the world’s most powerful returns platform, where retailers can easily enforce their unique return policies, automate complex workflows, and seamlessly connect the flow of information across back-end operations.
ReturnLogic, an e-commerce infrastructure Software as a Service (SaaS) company, provides modern retailers a full stack end-to-end returns management and analytics platform, delivering a competitive advantage built around data, operations, and shopper behavior. For more information, visit www.returnlogic.com.
About Revolution’s Rise of the Rest Seed Fund
Revolution’s Rise of the Rest Seed Funds are investment funds that are part of a nationwide platform led by Steve Case focused on spotlighting regional startup hubs and investing in early-stage, high-growth companies across the country. The team executes a proven strategy of partnering with regional ecosystem leaders and co-investors to build and scale the next wave of transformational companies. The Rise of the Rest Seed Funds are backed by a group of iconic entrepreneurs and business leaders who believe that the next great startups are located outside of coastal tech hubs. The Rise of the Rest Seed Funds are headquartered in Washington, D.C. and part of Revolution’s family of funds including Revolution Growth and Revolution Ventures. Visit us online at revolution.com/rotr or @RiseOfRest.
Amplify is the leading pre-seed fund based in Southern California, investing in early-stage entrepreneurs across the U.S. Since its inception in 2012, Amplify has invested in 90 startups from their first check, partnering with them to build teams, iterate on product and scale, as well as helping them raise over $1B in follow-on capital.
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