Convey, an Austin company that makes freight shipping and communications software, has raised a $4.5 million Series A round.
The round of new money includes $3.6 million from existing investors, including Silverton Partners, Techstars Ventures, Capital Factory and Corsa Ventures. Those are Austin-based investors, except Techstars Ventures, which is based in Boulder but has a significant presence in Austin because one of its partners, Jason Seats, is based here.
Convey, which launched as Pivot Freight in Phoenix in 2013, has grown quickly since arriving in Austin and enlisting serial entrepreneur Rob Taylor as its CEO. Dan Bebout is its founder and VP of customer experience. The company has raised a total of $6.9 million, so far.
The company's software helps e-commerce companies deliver products, especially large items that require special shipping, to consumers with end-to-end services that help track shipments. Their customers include Jet.com, Build.com and Austin-based Living Direct. The company says its software has led to an 11 percent average reduction in shipping spending and significant improvements in final-mile delivery time for big items.
"Our research shows that 70% of consumers will abandon a retailer after a single bad delivery experience. The Convey solution allows retailers to dramatically improve the entire fulfillment process,” Taylor said in a news release. “This Series A funding round will allow us to continue developing our platform’s capabilities to help retailers provide their customers with exceptional customer delivery.”
