Offering an innovative shipment tracking software for ecommerce, Rush has just secured €2.5 million in a seed funding round co-led by Eleven Ventures and Launchub Ventures. The Bulgarian startup is on a mission to optimise the shipment process, improving customer buying experiences.
The round is also joined by prominent angels with industry expertise such as Yair Miron (founder of Rise.ai) and previous investors including Adii Pienaar (ex co-founder of WooCommerce), Casey Armstrong (CMO at Shipbob), and founders of SMSBump and HeyCarson.
In the context of recent supply chain issues and poor delivery experiences, thousands of ecommerce merchants are losing billions of euros in post-purchase revenue. At the same time, 94% of consumers blame retailers for poor delivery and 74% of consumers believe that delivery is the “most important factor” in the overall shopping experience, according to Rush.
Kiril Kirilov, CEO and Co-Founder at Rush, explained: “We know how competitive the ecommerce market is. Many store owners pay no attention to the post-purchase process and wonder why they can’t retain their customers. That’s why we built Rush, to transform the post-marketing experience into an automated system that attracts lifelong paying customers”.
Founded in Sofia in 2020, Rush’s platform allows Shopify-based store owners to gain visibility into their shipments, made through more than 600+ carriers, and keep their customers fully engaged with proactive delivery notifications that boost customer retention rates on autopilot.
In addition to customer retention, order tracking is an underutilized channel for sellers to promote better upsells and cross-sells to their current customers base. Rush’s tools enable merchants to create their own customizable branded tracking page that is visited at least 3 times per order.
Stanislav Sirakov, General Partner at LAUNCHub Ventures, commented: “Over the last two years we have constantly observed three repeating trends in e-commerce: every store needs to provide an Amazon-like experience; Shopify has built an incredible eco-system of merchants and developers; post-purchase communication is as crucial as customer acquisition strategy. Rush combines all three, allowing their customers to turn shipment tracking pages into marketing and upselling opportunities.”
This fresh funding boost will be used to increase the development of the ecomtech startup’s platform and expand its network with best-in-class agencies, technology platforms & warehouse solutions. Some of the upcoming features include one-click upsells & down-sells, SMS integrations, full control on the “Thank you!” and tracking pages, estimated time of arrival and seamless Paypal integration.
Vassil Terziev, Partner at Eleven added: “We are very excited to welcome Rush to the Eleven Ventures family! Stanislav and Kiril bring a wealth of e-commerce experience and we’re looking forward to be a valuable partner in their journey to help merchants improve customer satisfaction and drive up retention. Judging by the rave reviews of their customers, they seem to be on the right track.”
