"We built Grip to help brands focus on perfecting their actual product(s) and take the headache out of the shipping aspect. "There was a clear gap in the market for software that could handle the ever-changing shipping conditions that perishable eCommerce brands experience," says Juan C. Jimmy Cooper, former Head of Data at ButcherBox recently joined Grip as co-founder and CTO, bringing nearly a decade of experience in the sophisticated data technology industry. He was responsible for setting up ButcherBox's logistics strategy and building out their logistics network from the ground up, helping to scale ButcherBox profitably from $0 to $550 million in revenue yearly without any traditional financing or outside investments. Like many great entrepreneurs, Meisel found himself in a closet-sized space in Harvard Square as one of the first five team members at ButcherBox after reaching out to eCommerce pioneer and ButcherBox CEO and Founder Mike Salguero for advice and mentorship. Meisel after his tenure as Head of Logistics at ButcherBox as he attempted to solve the challenge of adjusting shipping strategies dynamically as network conditions were ever-changing. The idea for Grip came to Founder Juan C. Grip's solution is focused on remedying the broken information loop between carrier performance, damaged shipments, and logistics decision making. Research also shows that a positive doorstep delivery experience is key to customer loyalty. Shipping problems and delays currently account for 30% of online shopping drawbacks and results in high customer churn. $47.6 billion, a 39% CAGR and reach 21% of total eCommerce retail sales. The Statista Digital Market Outlook estimates further that by 2025 this figure will increase to U.S. $34.2 billion in 2021 and accounting for about 13% of total retail eCommerce sales in the U.S. According to Statista Research, revenue from the eCommerce food and beverage industry in the United States stood at U.S. Grip sits at the center of a market in the middle of exponential growth. By decreasing product and transportation waste, Grip enables their customers to reduce their environmental footprint. Businesses receive additional value from reporting on-time delivery, transit time, failure rates, and customer feedback to identify areas for improvement. Grip also monitors and identifies major weather events that impact orders before they ship, so shippers can leverage that data to proactively hold orders or reach out to customers about potential delays. Grip functions as a tech platform that sits on top of customer's order management systems to automate every perishable eCommerce shipment's carrier, service, refrigerant quantity, packaging, and shipping facility selection based on real-time network conditions such as temperature through the journey, carrier on-time delivery, and box performance. Grip will use the capital from this round to continue to pioneer the direct-to-consumer perishable supply chain and innovate in the space with advanced data processing and machine learning. MIAMI, FL / ACCESSWIRE / Novem/ Grip, a smart logistics engine that reduces failed deliveries and shipping costs, and increases customer lifetime value for perishable eCommerce companies, emerged from stealth mode today and announced a $2 million pre-seed round backed by Soma Capital, Western Technology Investment (WTI), and top industry players with 100+ years of industry experience. Meisel, Announces a $2 Million Pre-Seed Round backed by Soma Capital, Western Technology Investment and Top Industry Players Former Head of Logistics at ButcherBox, Juan C.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |