Seed Funds for eCommerce Returns Data Firm Two Boxes

In the US, eCommerce returns data specialist Two Boxes has emerged from stealth with a $4.5m seed round of funding. Money will be used to grow the firm's engineering team, expand its product offering and presence across North America, and further develop its analytics capabilities.

According to an estimate from the National Retail Federation, $816 billion worth of retail merchandise purchased in 2022 was returned, and for every $1 billion in sales, the average retailer incurs $165m in merchandise returns. Founded last year by Kyle Bertin and Evan Stalter, California and Colorado-based Two Boxes enables brands and 3PLs (third-party logistics) to process returns and capture data from the return process to better understand and connect with customers, suppliers and partners. With the platform, users can understand where their returns inventory is, get it back into stock, and capture data about returns from the warehouse.

New funding has been led by Vinyl Capital, with participation from Matchstick Ventures and Range Ventures. Bertin comments: 'With our data-driven insights, brands can eliminate waste and increase operational efficiency across the reverse supply chain. The support from the team at Vinyl will help us scale our business significantly, given their deep experience as investors and operators in the ecosystem'.

Web site: www.twoboxes.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.