Retail

Bridal Cosmetics E-Commerce Luxury Office Products Supply Chain Management
News Release Digital Asset Direct

UK fintech Atoa secures $2.2M as it kills Visa and Mastercard fees for businesses

Atoa Payments

There are more than 4 million small businesses in the UK which have no viable alternative to debit card payments and are reliant on Mastercard or Visa payment rails. Challenging this status quo, UK fintech Atoa Payments is announcing a $2.2M pre-seed funding round to reduce by 70% the payment fees and offer a new approach to making payments. The funding round was led by Leo Capital and Passion Capital and also included well regarded angel investors such as Matt Robinson (co-founder of GoCardless and Nested) alongside Moon Capital Ventures. Anil Stocker, Co-Founder & CEO of MarketFinance also serves as a company advisor. Mastercard and Visa payment rails have an effective duopoly in the market which enables them to get away with net margins as high as 51% at the expense of small merchants and their customers. On top of this, card machine providers charge small businesses up to 1.75%. Atoa is building a truly viable alternative for small businesses to accept payments at a fraction of those costs and to improve their cash flow meaningfully at the same time. Using Atoa is seamless. Businesses simply download the Atoa app and securely connect their merchant bank account. Set up takes less than 5 minutes, after which the merchant can accept payments via SMS, Pay-by Link or by displaying a QR code on their Atoa App or physical QR stand next to their till. At the same time, their customers do not need to download a separate app to pay which removes a substantial point of friction inhibiting merchant options until now. Any customer with a UK mobile banking app on their phone can securely pay a merchant who is using Atoa. Without requiring a separate consumer app, the customer simply scans the merchant’s QR code or clicks on the link sent by the merchant, selects their bank and then is redirected to their existing mobile bank app to approve the payment, meaning that the merchant receives the funds instantly. Sid Narayanan, Co-Founder of Atoa Payments said, “We are grateful to have the support and partnership of such strong investors validating our plans to break the card payment duopoly in the UK and to improve cash flows and economics for the country’s small merchants. At a time of record inflation and in the midst of a cost-of-living crisis, the UK’s small and medium merchants are struggling to contain their costs, provide great service to the customers, and maintain profit margins. Atoa is here to empower merchants and to improve their cash flow and bottom line.” Atoa Instant Bank Pay allows small merchants to receive payments at a flat fee which is up to 70% cheaper than card machines provided by SumUp, Zettle or Square. The merchants then receive funds in their bank accounts instantly instead of having to wait 1-2 days as is the usual case with card machines and debit cards. Using Atoa involves no contracts (pay as you go), no hardware fees and no chargeback fraud risk (all payments are approved via bank app and have Strong Customer Authentication). By contrast, small retailers today are locked into contracts and typically have far from transparent fees to pay including authorisation fees, hardware fees, PCI compliance fees and more which all eat into their margins. Hardware fees can be as high as £29/month. Robert Dighero, Partner at Passion Capital, said “Atoa has come to the UK market at the right time to leverage open banking and bring to small and medium sized merchants a truly viable alternative to payment cards and card machines that can be deployed in-store within minutes. We’re delighted to work with the Atoa team after their first fintech success and look forward to partnering with them as they achieve even greater heights with Atoa. Shwetank Verma, Partner at Leo Capital, said “Leveling the playing field for independent, small and medium sized merchants is an obvious opportunity which benefits everyone, not least of which consumers. We have seen this business model succeed in India and SEA and we’re looking forward to working with the Atoa team to help them build another successful business in a massively growing market.” Since going live in June, the company has experienced more than 100% month on month growth in terms of both Total Payment Volume (TPV) and number of merchant customers. Over time, the founders’ ambitions are to become a mainstream small business friendly payment method replacing payment cards. About Atoa Payments Atoa was co-founded by Sid Narayanan, Cian O’Dowd and Arun Rajkumar, who all previously founded Singapore based fintech, KlearCard, which was acquired last year by Validus. Their first successful enterprise has motivated them to seek even greater heights and to have greater impact and to focus on one of the largest merchant retailer markets in the world, the UK. After securing their pre-seed funding round, the co-founders relocated to the UK and have achieved outstanding traction since summer 2022. About Passion Capital Passion Capital (passioncapital.com, @passioncapital) was established in 2011 to bring founder-friendly operationally-minded venture investing to the UK and Europe. Founded by former entrepreneurs instead of traditional asset fund managers, Passion was one of the first operator-led dedicated early-stage venture funds in Europe. Additionally, it was the first in the world to publish and use a plain English language term sheet and not to charge its portfolio companies any of its own legal or other fees, the first in Europe to publish fund infographics and to host joint office hours (for pitching sessions), and the first to manage a coworking office space. Over the last decade the team has invested in some of the strongest European founding teams including those from GoCardless, Monzo Bank, Lendable, Marshmallow, Tide Banking, Digital Shadows, Smarkets, Tray.io, urban, Spotahome, Butternut Box, Nested, PolyAI, Causal, Fertifa, Screenloop, Sequence, True Circle and many more. About Leo Capital Leo Capital is a Singapore based early stage venture fund, built by serial entrepreneurs with global experience. Leo Capital backs companies powering a software-enabled world and supports their founders on the journey from great founder to great CEO. We are excited about partnering with founders building the iconic companies of tomorrow. Please see http://www.leo.capital/ for more details. Contact Details Atoa Payments Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://paywithatoa.co.uk/

November 24, 2022 06:00 AM Eastern Standard Time

Image

Holiday Countdown

News Media Group, Inc.

Contact Details News Media Group Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/

November 22, 2022 11:00 AM Eastern Standard Time

Video

Minuteman Press Franchisees Dawn and Dean Seifert Celebrate 15 Years in Youngstown, Ohio

Minuteman Press International Inc

Dawn and Dean Seifert, owners of two Minuteman Press franchises in Youngstown and Warren, Ohio, are celebrating 15 years in business for their Youngstown location, which opened in May 2007. Minuteman Press in Youngstown is located at 3200 Belmont Avenue, Youngstown, OH 44505. In January 2020, Dawn and Dean purchased Minuteman Press in Warren located at 2460 Elm Road NE, Unit 500, Warren, OH 44483. Prior to franchising with Minuteman Press, Dean grew up in a family-owned print shop while Dawn worked in banking. They decided to own a business “to set our own destiny,” says Dawn. When asked about their success and longevity over the past 15 years, Dean says, “There are 4 keys to our business: Being able to have two of our four children work with us in the family business. Our customer service – we never tell a client that something can’t be done. We update our equipment when needed to make sure we operate efficiently. Following the Minuteman Press franchise system and marketing to our clients and community.” Dawn adds the following insights on how they have successfully marketed the business. She says, “There are 4 primary ways we have grown our business: Getting involved in the community and sponsoring various local events. Visiting our clients on a regular basis. Providing customers with our branded promotional items. Utilizing email marketing campaigns.” For Dawn and Dean, their high-demand products from clients include “custom printed brochures, branded promotional products, and full-scale direct mail marketing campaigns that include graphic design, printing, and mailing.” Dean says, “People still like to have something to hold onto and printing is the perfect way to put your brand in their hands and make a lasting impression.” Today, the local business community is looking bright. Dean shares, “We are excited to be part of a community along Liberty’s Belmont Avenue Business Corridor, which is the Mahoning Valley’s home base for many family-owned businesses. We are local businesses supporting each other and our customers. One of the biggest rewards of owning this business is building real relationships with our clients and having them become part of our family.” As part of the Minuteman Press franchise system for 15 years, Dawn and Dean share their three key benefits of franchising: “The corporate and local regional offices are always just a phone call away. The training was perfect for us and laid the foundation for how we operate our business. The Minuteman Press FLEX software helps us manage our business – it is easy to learn and operate/maintain.” As for what advice they would give to other businesses owners right now, Dean says, “Don’t try to do everything yourself. Also, treat your employees right and share your growth with them.” For more information about Minuteman Press in Youngstown, Ohio, visit https://minuteman.com/us/locations/oh/youngstown/ For more information about Minuteman Press in Warren, Ohio, visit https://minuteman.com/us/locations/oh/warren/ Learn more about #1 rated Minuteman Press franchise opportunities and to see Minuteman Press franchise reviews, visit https://minutemanpressfranchise.com Contact Details Minuteman Press International Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

November 17, 2022 10:00 AM Eastern Standard Time

Image

dbx-tv’s Total Cal Recognized as 2023 CES Innovation Awards Honoree

dbx-tv

dbx-tv® today announced Total Cal®, a patent-pending in-home audio tuning system has been selected as a CES Innovation Award Honoree. Total Cal was selected for its ability to improve the sound of televisions, soundbars, and portable/home speakers. The announcement was made in conjunction with the 17 th annual CES Unveiled New York event, an intimate, invitation only event showcasing what’s to come at CES 2023--the most influential tech event in the world. dbx-tv’s Total Cal gives TV, soundbar, and home speaker end-customers the ability to fine-tune the audio performance of their equipment for their individual listening environment. Controlled via a user-friendly app, Total Cal detects and corrects for acoustic issues in the home, ensuring all material sounds exactly the way it was intended. “The Total Cal system represents a breakthrough in consumer audio, bringing in-home tuning technology to budget-friendly electronics. Total Cal makes it easy for every consumer to experience high quality, accurate, and customized sound without the need for any audio expertise or complex A/V equipment“ says Les Tyler, the inventor of automatic equalization technology and President of dbx-tv. Based on dbx-tv’s professional audio measurement and calibration algorithms, Total Cal measures the device’s performance in the room at a variety of listening positions then re-tunes the audio parameters to provide customized, accurate sound quality. “dbx-tv’s sole focus is improving the sound of consumer electronics through clever audio processing--without increasing hardware costs for manufacturers or consumers. By harnessing the power of cloud computing and the mobile devices consumers already own, Total Cal works with the industry standard SoCs and DSPs manufacturers already design around, enabling them to deliver high-end audio processing in cost-conscious products” said Timothy Brault, Director of Sales and Marketing for dbx-tv. dbx-tv offers Total Cal to TV & speaker OEM/ODM manufacturers as a companion application to the company’s Total Sonics audio post-processing. Products utilizing Total Cal are expected to reach consumers early in 2023. Total Cal, along with dbx-tv’s other audio processing technologies, will be on display and available for demonstration at CES 2023 in suite 306 of the Westgate Las Vegas Resort and Casino. About dbx-tv dbx-tv has over 40 years of experience improving audio in TVs and other small speaker devices. Born from the pro audio legacy of dbx, dbx-tv has earned multiple television audio technology awards and has improved sound in over a billion devices worldwide. Learn more at www.dbx-tv.com. Contact Details Rainier Communications Jenna Beaucage +1 508-340-6851 jbeaucage@rainierco.com Company Website https://dbx-tv.com

November 17, 2022 08:13 AM Eastern Standard Time

Image

New Alvarez & Marsal Fall 2022 Consumer Sentiment Report - Highlights Impacts of Inflation, Weak Optimism

Alvarez & Marsal Consumer and Retail Group

Category spend down y-o-y for basic needs, experiences, gifts & indulgences 7 in 10 Consumers plan to spend less on holiday shopping Rising prices create concern across all age groups New York, NY —November 16, 2022— Global professional services firm Alvarez & Marsal’s Consumer and Retail Group (A&M CRG) today released its newest consumer report, Consumer Sentiment Survey Fall 2022, which looks at the impacts of inflation and resultant changes in consumer spending over the last year, as well as spending expectations into the holidays and for the coming six-month period. This is the third chapter of its bi-annual Consumer Sentiment Report, based on a survey of 1,500+ consumers matching the U.S. adult population according to gender, age, ethnicity, region and income. The report covers various changing behaviors in response to inflation, including around consumers’ holiday spending plans, shopping priorities by category, concerns over rising prices, other factors that will affect holiday purchase decisions, and more. “Our objective was to understand how inflation is affecting the American consumer in terms of their optimism or lack thereof, their buying patterns and expectations, and their preferred shopping channels – especially as we go into the holiday season” noted Jonathan Sharp, Managing Director at Alvarez & Marsal’s Consumer and Retail Group, and lead author of the study. “What we found is that extended inflationary pressures are causing U.S. consumers to retrench further and curtail even more their discretionary spending – even categories that had seemed somewhat immune in spring 2022 are now under pressure.” Additionally, many fear that inflation has yet to peak, with 65% of consumers expecting prices to continue to rise in the next 6 months. The study found that: Almost 9 in 10 consumers have adopted new habits in response to inflation; 7 in 10 are altering their holiday shopping habits Among shopping priorities by category, only grocery was up, vs. dining out, which was down by 40% Concerns over rising prices rise with age, as do plans to spend less on indulgences Consumer expectations on things getting better, saving more, having more money, and plans to spend the same or more on basic needs were all down year-over-year This year’s holiday season looks like it will also be impacted by consumer spending reticence. The most significant changes people are making is a reduction in their overall gift spending; 1 in 3 shoppers plan to spend less on gifts this holiday season. The report provides insights into the factors that will have an impact on purchase decisions this holiday, including shipping fees, more limited return policies, potential upcoming sales, holiday availability, and Buy Now Pay Later options. “Smart retailers will remain agile in responding to deal-hungry, penny-pinching consumers,” added Jonathan Sharp. “Inventory management, pricing and cost management will continue to be severely challenged.” To download a pdf of Consumer Sentiment Survey Fall 2022, please visit: https://alvarezandmarsal-crg.com/insight/am-crg-consumer-sentiment-survey-fall-2022/ The Alvarez and Marsal Consumer and Retail Group (CRG) is a management consulting firm that tackles the most complex challenges and advances its clients, people, and communities towards their maximum potential. CRG combines the best of A&M’s broader firm's bias toward action and practicality with deep consumer and retail industry experience. CRG partners with businesses across a wide range of categories including Food & Beverage, Beauty & Personal Care, Grocery, Mass Merchandise, and Apparel & Footwear to drive significant performance improvement. Contact Details David Schneidman dschneidman@alvarezandmarsal.com Company Website https://www.alvarezandmarsal.com/industries/retail/retail

November 16, 2022 11:47 AM Eastern Standard Time

Arey Closes Oversubscribed $4.15 Million Seed Fund Round

Arey

Arey, an e-commerce business poised to disrupt the hair care industry, is pleased to announce that it has closed an oversubscribed $4.15 million Series Seed financing round, far exceeding its original $2 million target. Female Founders Fund and Greycroft acted as the lead investors. Funds generated through this round of investment are expected to be focused on R&D and distribution expansion. Arey is one of the first functional beauty brands that targets aging hair with a proactive and science-driven approach, with a specific focus on grey hair. Scientists have identified that genetics only account for approximately 30% of grey hair. Grey hair can be a message from the body about what may be lacking. Vitamin deficiencies due to diet and lifestyle choices associated with oxidative stress, and even chemicals in the dyes used to cover grey hair can be contributors. Arey was co-founded by CEO Allison Conrad, a leading entrepreneur who ideated the company based on her own hair journey and Jay Small, a former Paul Mitchell protege and top professional celebrity hair stylist aligned with educating clients on hair color loss. Along with their team of medical advisors including internal medicine MDs, dietitians and chemical engineers, the brand offers a range of products, including The System which incorporates an inside-out and outside-in approach with a supplement + hair serum, The Duo of shampoo + conditioner that work together to restore hair health including reducing the likelihood of increased grey hair growth as well as thicker, fuller and more vibrant hair. Arey gets to the root of the problem with a proactive hair care system that can be implemented at the first signs of grey by preserving and even restoring pigment. Tapping into a clear demand, the brand has experienced 1100% YOY growth since its 2021 inception. Products are available via one-time purchase or subscription basis. With the latter, Arey saw 975% subscription growth in the last year, making up over 70% of their revenue. Conrad states, “we are not anti-grey, but rather want to provide both men and women an alternative to the current reactive option of hair dye. We are the wrinkle cream of hair care targeting those looking to prevent aging hair and customers who are in the early stages of greying hair.” Speaking to those who have already turned grey Small adds, “Nearly 85% of women have colored their hair, 78% of which is at home. For years, the response to grey hair has been to cover it. Unfortunately, once this cycle begins, it's likely that each time you apply hair color chemicals to your scalp, healthy production of hair is stifled,” he explains. “The average person covering grey will have to maintain color every 4 weeks, and will likely overuse hair color on areas of the hair that do not need coverage. This frequency and overexposure are a high payload of oxidative stress and could be contributing to an increase in gray hair with every application.” Arey has proven successful in decreasing this need, thwarting the aging process of hair. Anu Duggal, Founding Partner at Female Founders Fund, shares, “We are thrilled to co-lead Arey Grey’s seed round in bringing a much needed science-driven system for addressing aging hair to consumers. The hair care category has been ripe for innovation and co-founders Allison and Jay have taken a preventive approach to hair health by creating a solution that both slows the greying process while also re-pigmenting hair color. Since launch they have seen tremendous organic demand from both female and male consumers with exciting product development in the pipeline. With a big vision to offer better solutions to consumers for hair care, we are excited to be backing this stellar team in their vision to transform hair health.” “Arey’s science-driven, efficacious solutions and elevated education-based branding speak to consumers across genders in a differentiated way,” said Greycroft Principal Alaina Hartley. “The Greycroft team is excited to support co-founders Allison and Jay as they build the category-defining brand in aging hair care.” “We built the business with strong unit economics from the beginning and a focus on profitability. We are thrilled that Female Founders Fund and Greycroft recognize the huge potential in this growing category we have created,” Conrad adds. About Arey: Launched in 2021, Arey offers science-driven products formulated with vitamins, antioxidants and peptides to help delay and re-pigment grey hair from the inside-out and outside-in, while also helping you grow thicker, fuller, healthier hair overall to consumers in North America and Canada. With 6 current products in their portfolio, the company’s direct-to-consumer, subscription-based business model provides an easy refill plan, ensuring consumers are able to easily maintain a continued high level of hair health. For more information, please visit arey.com and follow @areygrey social media for updates. About Female Founders Fund: Female Founders Fund is the pre-eminent early-stage fund investing in female-founded technology companies with $100M under management across three funds. Since its founding in 2014, Female Founders Fund has invested in over 70 of the fastest growing female-led companies nationwide. These include category leaders like Maven Clinic, Tala, ELOQUII, Real, Peanut, BentoBox, Billie, Co--Star, and more. For more information visit www.femalefoundersfund.com About Greycroft: Greycroft is a seed-to-growth venture capital firm that partners with entrepreneurs of all backgrounds to build category-defining companies. We have deep experience investing in consumer, enterprise, digital health, and fintech sectors around the globe and work as a team to support and advise entrepreneurs, empowering them to execute on their visions. Greycroft manages over $2 billion in capital raised and has made over 300 investments since inception. For more information, please visit https://www.greycroft.com. Contact Details Amanda Smeal Consulting, Inc. Amanda Smeal amanda@amandasmeal.com Sunshine Sachs Robert Busweiler, busweiler@sunshineandsachs.com Aimee Moss aimee@aimeemoss.net Company Website https://areygrey.com

November 16, 2022 09:04 AM Eastern Standard Time

Image

Stagwell (STGW) Agency Assembly joins The Attention Council

Assembly

Omnichannel media agency Assembly, part of Stagwell (NASDAQ: STGW), has joined The Attention Council as an agency member, further bolstering its commitment to meet the mixed media demands of its burgeoning global client cohort. The Attention Council is a coalition of advertising technology companies committed to promoting attention as a primary metric for understanding advertising and increasing advocacy for the wider adoption of cross-platform attention metrics in the planning, buying, and selling of media. Andy Brown, CEO of TAC, commented, “I am delighted to welcome Assembly to The Attention Council. They join at a time of major growth for use of attention metrics in the media and marketing industry. I look forward to them playing an important role in the evolution in the coming years”. Joel Coppersmith, Global Head of Measurement & Effectiveness at Assembly, added, "The media landscape has evolved and so have the ways in which consumers and media interact. There is a lot still to learn as we seek ways to improve the effectiveness of media and advertising at driving business outcomes.” “The value and use of attention and attention-based metrics is a fascinating, and hotly debated, topic that may shed light on how we can deliver better advertising, and Assembly is delighted to be part of driving that conversation forward". ABOUT ASSEMBLY: Assembly is the modern global omnichannel media agency, bringing data, talent, and technology together to find the change that fuels growth for the best brands on the planet. Our approach connects big, bold brand stories with integrated, global media capabilities that deliver performance and drive large-scale business growth. Our work is powered by our proprietary, in-house technology solution, STAGE, and led by our global talent base of over 1,600 people around the world. We’re purpose-driven at our core and pioneers in social and environmental impact in the agency world. Assembly is a proud member of Stagwell, the challenger network built to transform marketing. Visit www.assemblyglobal.com Contact Details Assembly Gunilla Huddleston, VP of Marketing, EMEA gunilla.huddleston@assemblyglobal.com Company Website https://www.assemblyglobal.com/

November 16, 2022 04:00 AM Eastern Standard Time

NaRaYa Announced as Official Sponsor of APEC Voices of the Future 2022 Held in Thailand

NaRaYa

NaRaYa, a lifestyle brand that offers handbags and accessories to customers worldwide, has signed on as official sponsor of APEC Voices of the Future 2022, which will be held in Bangkok, Thailand in parallel with the APEC CEO Summit 2022 between November 13-18, 2022. Under this year’s theme, “Open. Connect. Balance.” with an emphasis on readiness to drive APEC forward to be open to all opportunities, connect in all dimensions, and balance in all aspects. NaRaYa is the sponsor of the APEC Voices of the Future 2022 program, as well as designing and producing a special bag collection for programme members and meeting attendees. On November 14, the company will host a special event at its headquarters for the delegates to attend. The APEC Voices of the Future program was first launched in 1998 in Kuala Lumpur, Malaysia. The event aims to provide opportunities for young people from 21 APEC economic zones to engage in activities that promote the exchange of perspectives and solutions on issues related to the future of economies in the Asia-Pacific region, where they discuss the challenging issues, opportunities, and solutions with the same objective as the APEC summit. Youth leaders will also be able to listen to the visions of executives from the world’s leading companies attending the APEC CEO summit. NaRaYa was founded in 1989, in Bangkok, Thailand by Mr. Vassilios Lathouras and Ms. Wasna Roongsaenthong. NaRaYa's products are artistically crafted, using high-quality materials to produce uniquely designed handbags and accessories at reasonable prices for everyone. The company is constantly developing products and expanding its product line to meet the ever-changing needs of consumers, while also supporting local communities across Thailand by providing job opportunities and generating income for locals. "We are delighted to be a part of the APEC Voices of the Future 2022 program, which provides a platform for the younger generation to have their voices heard and to showcase their full potential to the world, and we are honored to be a part of their journey,” said Pasin Lathouras, Chief Corporate Strategy Officer of NaRaYa. Lathouras added, “I firmly believe in providing opportunities for the new generation, and I’m inspired by what they are doing to make the world a more equal, sustainable, and greener place. More and more people are becoming aware of global issues that are occurring around the world, and the younger generation has become the forefront in raising these issues.” For more information about NaRaYa, please visit our website www.naraya.com For more information about APEC VOTF 2022, please visit www.apecvoicesofthefuture.org/ Contact Details NaRaYa Sakao Praditsuwan +66 66 113 4363 sakao.pr@naraya.com Company Website https://www.naraya.com/

November 15, 2022 10:30 AM Eastern Standard Time

Image

Last-Mile Delivery Carrier Better Trucks Secures $15 Million for Expansion

Better Trucks

New funding expedites market expansion and technology investments Better Trucks, a technology-driven logistics firm focused on rapid parcel delivery, secured a $15 million round led by venture capital firm Lobby Capital with Corazon Capital and Venture 53 also participating. Better Trucks is a last-mile delivery carrier focused on next-day and two-day parcel shipping to residential customers, leveraging in-house technology to streamline the delivery process. Its shipping clients include leading national retailers delivering across the Midwest, Northeast, Southeast, and Texas, as well as e-commerce and fulfillment companies such as ShipBob. Better Trucks is also available on the leading multi-carrier shipping platforms such as EasyPost and ProShip. “This first outside investment allows us to expand our footprint and build upon our proprietary tech stack to deliver a better experience for our clients and their customers,” said Andy Whiting, Better Trucks co-founder and CEO. “These investment partners share our vision for the next age of delivery that puts customers’ unique needs ahead of the outdated demands of legacy delivery companies.” Better Trucks has expanded its market footprint to 25 metro areas across 17 states, with plans to double its coverage area over the next year. To support its fast-growing customer base, this round injects capital for Better Trucks to invest in additional warehouse capacity throughout the United States and to hire in the technology, operations, and corporate functions, as well as build its flexible driver workforce. “Better Trucks changes the delivery game through its tech-forward, end-to-end solution for any commercial shipper,” said Eric Carlborg, co-founder of Lobby Capital, lead investor of the round. “We got under the hood of Better Trucks and see a bright future for Andy, Weston and their team who have figured out how to supplant the incumbents to serve clients with flexibility, speed and efficiency as shipping demand soars.” Retailers, e-commerce, fulfillment companies, and traditional third-party logistics (3PL) distribution companies drive Better Trucks’ growing customer base in a market experiencing rapid growth. Parcel volume in the U.S. increased to 21.6 billion packages in 2021 according to the 2022 Pitney Bowes Parcel Shipping Index. U.S. carrier revenue shot up 16% year over year, to $188 billion. Founded by Andy Whiting and Weston Webb in 2019, the Better Trucks leadership team marries deep technology and logistics backgrounds, taking a technology-first mindset to their approach to improving parcel delivery. From the first package scan to the final delivery notification, Better Trucks is building its software solution from the ground up to improve parcel visibility, communication throughout the delivery process, and increase efficiency at every step in the journey. About Better Trucks Better Trucks is a technology-driven, last-mile delivery carrier built for digital commerce. Founded in 2019, it delivers a better experience for retailers, e-commerce firms, and fulfillment centers to ship parcels faster with better communication and better value. Specializing in next-day and two-day deliveries, Better Trucks sorts and labels packages within its strategically-placed warehouses and delivers them through its extensive driver network. Visit bettertrucks.com. Contact Details Better Trucks John Hall +1 303-223-6965 john@hallwaycommunications.com Company Website https://www.bettertrucks.com/

November 15, 2022 07:01 AM Central Standard Time

Image

1 ... 51 52 53 54 55 ... 93