Two Boxes Raises $5.3M to Enhance Their Innovative Solutions
Two Boxes Secures Significant Funding to Innovate Returns Management
With over one million returns processed to date, Two Boxes has established itself as a leading logistics solution for brands and third-party logistics providers (3PLs). This innovative company has successfully raised $5.3 million in an oversubscribed funding round, which has more than doubled the company's valuation. The investment round was led by Peterson Ventures, with participation from Assembly Ventures and renewed support from existing investors including Vinyl, Range Ventures, and Matchstick Ventures.
Transforming the Returns Process
Two Boxes uniquely addresses one of the most challenging aspects of e-commerce: the returns process. While many solutions focus on getting the item back from the customer, Two Boxes targets the warehouse side, which has often been manual and inefficient. Their approach enhances the inspection, processing, tracking, and prioritization of returns.
Combatting Return Fraud
Recognizing the growing problem of return fraud, Two Boxes has introduced product innovations that empower brands and 3PLs to manage returns better. This effort is essential as return fraud continues to escalate in complexity and scale. By streamlining returns management and expediting the reintegration of inventory into stock, Two Boxes not only increases profitability for its clients but also supports sustainability initiatives and minimizes waste.
Confidence in the Company’s Growth
The company's fresh valuation reflects the market's trust in Two Boxes' capacity to transform operations for its clients. According to Taylor Jones, a partner at Peterson Ventures, “We see firsthand how damaging high return rates can be to a business. Two Boxes optimizes what used to be a labor-intensive process while also providing data insights that enhance overall efficiency.”
Partnerships and Rapid Expansion
Recently, Two Boxes made headlines for partnering with renowned companies like Loop and Happy Returns, a UPS Company. The firm currently caters to over 20 3PLs and counts prominent industry leaders like Capacity, Flowspace, and GoBolt among its clients.
Client Success Stories
Two Boxes' effectiveness is evident through its 100% pilot conversion rate. Clients that have tried its software report impressive results, such as an 80% reduction in employee training time and over a 50% increase in operational efficiency. The solution has also led to a remarkable 15% increase in returns revenue across the board.
A Bright Future Ahead
With the recent capital influx, Two Boxes is poised to expand its engineering team and broaden its market reach. “Our mission is to turn returns into an asset,” co-founder Kyle Bertin stated. “We are committed to pushing our innovations in fighting fraudulent returns and scaling rapidly with our partners.”
Innovative Features and Future Projects
The company has rolled out several new features, including a Partner Portal designed for seamless onboarding and efficient return process optimization. This initiative significantly eases collaboration between brands and 3PLs. Additionally, Two Boxes has integrated multi-language support into its software, catering to diverse warehouse staff. The partnership with Arrive further strengthens their recommerce strategy, which will empower brands and 3PLs in their returns operations.
About Two Boxes
Founded by Kyle Bertin and Evan Stalter in 2022, Two Boxes specializes in efficient returns processing while capturing critical data to improve logistics. Having raised a total of $9.8 million in funding, the company was also recognized as one of the Top 50 Promising Startups recently.
Frequently Asked Questions
What is the main focus of Two Boxes?
Two Boxes primarily focuses on optimizing the returns process for brands and logistics providers, addressing challenges faced when returns reach the warehouse.
How much funding did Two Boxes secure?
Two Boxes successfully raised $5.3 million in an oversubscribed funding round led by Peterson Ventures.
What innovations has Two Boxes introduced?
They have introduced solutions aimed at combatting return fraud, improving inventory management, and enhancing the overall returns process.
Which companies has Two Boxes partnered with?
Two Boxes recently partnered with Loop and Happy Returns to expand its service offerings to over 20 logistics providers.
When was Two Boxes founded?
Two Boxes was founded in 2022 by Kyle Bertin and Evan Stalter.
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