We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
Home » Convey lands $10 million investment to expand beyond retail sector
newsworthy

Convey lands $10 million investment to expand beyond retail sector

June 19, 2018
DC Velocity Staff
No Comments

Logistics technology firm Convey Inc. will expand its last-mile delivery management software beyond the retail sector thanks to a $10 million venture capital investment, the company said today.

The capital, which came from Silverton Partners, Techstars Venture Capital Fund, RPM Ventures, and NextGen, is Convey's fourth round of funding overall and brings the company's total investment to $25.75 million, the firm said.

Austin, Texas-based Convey makes cloud-based shipping software that it says allows brands to meet shipping deadlines and conditions by detecting and resolving any problems before they impact the customer experience.

Convey designed its software for the core market of retail customers, and burgeoning e-commerce orders are now driving a rising demand for improved visibility into last-mile delivery, Convey CEO Rob Taylor said in an interview. In response, the company will use its new funding to expand its product portfolio capabilities and add staffing in sales, engineering, and client success, he said.

In addition to driving research into improved capabilities, the funding will enable Convey to launch a sales and marketing effort to find applications for the software in additional vertical markets, such as the delivery of pharmaceutical products to drug stores, medical devices to hospitals, and construction materials to building sites, Taylor said.

Regardless of the sector, customer expectations for fast, inexpensive delivery are pushing the limits of carriers' and couriers' ability to deliver that service, he said. "The market has become very heated," Taylor said. "Carrier networks are becoming more complex, not less, and people are ordering more large items online, which means drivers have to come into their homes, and appointments have to be set."

Convey's software can help retailers meet those demands, whether they are same-day delivery, parcel, less than truckload (LTL), white glove, or threshold services, he said. "If a shipment is in distress, we can detect that very early in its journey, which is key because it gives the shipper and the carrier time to collaborate to do something about it before the customer is even aware," Taylor said.

Companies usually handle those issues by trading a barrage of spreadsheets, emails, and phone calls, but Convey's product acts as a collaboration platform where partners can communicate and resolve issues in a single application, he said.

The announcement follows Convey's last round of funding, when the company announced a 2017 investment of $8.25 million and launched a project to integrate its cloud-based shipping software with a last-mile delivery application from Ingram Micro Commerce & Fulfillment.

Technology
KEYWORDS Convey
  • Related Articles

    Bringg lands $10 million investment from Coca-Cola and partners

    Project44 lands $10.5 million in funding; plans to expand into truckload, final-mile, intermodal

    Convoy lands $400 million funding to expand online truck brokerage

Recent Articles by DC Velocity Staff

U.S. Xpress makes “significant investment” in self-driving tech vendor

Truckload carrier predicts challenging year ahead for industry

Train kept a rollin’

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Cold chain giant Lineage Logistics buys its own rail operator

  • Outlook 2021: What’s in store for logistics supply chain?

  • Cushman & Wakefield Brokers Sale of 170 Acres plus Lease for 1MSF Build-to-Suit for Home Improvement Retailer in Commerce City, CO.

  • Thriving in the long haul: interview with Colin Yankee

  • Biden names dozens of senior leaders to DOT, including FMCSA and FRA

Now Playing on DCV-TV

2mw 01 18 21 thumb

LTL Carriers Using Yield Management Techniques to Identify New Accessorial Charges

DCV-TV 4: Viewer Contributed
As we head into 2021, shippers are not too optimistic about negotiating rates with their carriers. The reason for this, as highlighted in the three CODE RED Webcasts we've hosted with our friends from CSCMP and NASSTRAC, is that in today's transportation marketplace, shippers are operating in uncharted waters. With...

FEATURED WHITE PAPERS

  • Proven Benefits: A Compendium of Slotting Optimization Success Snapshots

  • Bridging Information Gaps in Dock and Yard Operations

  • How Intelligent Sensor Solutions Turn Data Into Action

  • Order picking Solutions: Understanding Your Options

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2021. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing