Convey announced it has raised $10 million in funding from investors to help meet last-mile delivery demands.
Investors, including Silverton Partners, Techstars Venture Capital Fund, RPM Ventures, NextGen and others, will now bring the company’s total funding to $25.75 million. The investment will be used to expand product portfolio capabilities and add staffing in key areas including sales, engineering and client success, Convey noted.
“Since implementing Convey, Bodybuilding.com has worked through more than 20,000 shipment issues and seen a 10 percent reduction in inbound inquiries related to delivery problems,” said Greg Dahlstrom, director of global transportation at Bodybuilding.com. “Not only have we greatly improved the user experience for our customers, we now also have access to valuable service provider data that can be used in carrier performance reviews and negotiations.”
Last-mile delivery issues are especially acute in retail given rising consumer expectations, and increasingly in other industries such as building and construction materials, and industrial equipment and medical, where mission-critical complex deliveries need to arrive as promised.
“Our focus is to help businesses create amazing delivery outcomes for their customers, regardless of how large or complex a delivery might be,” said Rob Taylor, CEO of Convey, Inc. “This latest funding will give us the resources and talent to continue expanding our capabilities beyond retail into B2B, where companies face similar last-mile visibility and performance challenges, and customers have equally heightened expectations.”
“Convey continues to demonstrate a unique understanding of the challenges shippers, carriers and consumers face in the delivery experience, and to develop innovative solutions to address these issues,” said Morgan Flager, general partner at Silverton Partners. “The B2B market represents a wide open opportunity to apply Convey’s expertise in new and exciting ways. Given their past success and strong leadership team, I’m confident Convey will continue to exceed expectations and achieve great things.”