Announcing RetailReady’s $3.3M Seed Fundraising
San Francisco, Calif. — RetailReady has closed $3.3M to streamline warehouse packaging via an intuitive tablet app. The seed round was led by Wischoff Ventures, and supported by investors including 640 Oxford, Lombardstreet Ventures, Duke Capital Partners, Y Combinator, Matt Silver, Jacob Boudreau, and Scale Angel Fund.
Co-founders Elle Smyth and Sarah Hamer discovered the problem while working together at supply chain unicorn startup Stord.
Today, warehouse workers shipping on behalf of major brands rely on complex and lengthy page paper manuals of packing instructions, which leads to frequent shipping errors. A typical brand pays more than 3% of its gross invoice revenue in fees incurred by non-compliant shipments (chargebacks), totaling more than $40B each year across US retailers.
Meanwhile, retailer warehouse teams use printed routing guides to assess shipment compliance and manually record fines, doubling the labor required for 10-12% of all orders.
RetailReady's application replaces lengthy paper manuals with an intuitive digital interface that ensures warehouse workers correctly label each package for shipment. The app also automates error recording for retailers and delivers crucial compliance data to brands.
Within two months of launching, the company secured six customers.
“RetailReady is bringing a much needed solution to a painful problem that impacts every product in retail stores and carries a financial burden for thousands of brands and 3pls. I am confident RetailReady will transform the $40B retail compliance industry.” - Jacob Boudreau, Co-Founder & CTO of Stord
“RetailReady’s application is a no-brainer for warehouse teams working with retailers with heavy compliance requirements. Supply chain compliance is complex enough given the lack of full-time labor and introduction of robotics in warehouses. RetailReady can arm both short-term labor managing these requirements and a future where robots own most of the package processing.” - Nichole Wischoff, Wischoff Ventures
RetailReady is also hiring technical team members, more details here.
