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.”
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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.
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