Software Maker Convey Wins Innovation Award, Snags $8M for Growth
Austin—[Updated 4:34 p.m. See below.] For Convey, a startup with technology aimed at improving the process of shipping and delivery, winning an award from the Austin Chamber of Commerce last night was the cap to a busy week.
The chamber gave Convey its Innovation Award during its annual business award ceremony Wednesday. Three other companies, HID Global, NLand, and The Zebra, also received the award. One day earlier, Convey announced it had received an $8.25 million Series B round of funding from Techstars Venture Capital Fund, RPM Ventures, and other investors. That money, being used for product development and expansion into new target markets, brings Convey’s total funding to $15.75 million since its founding in 2013.
“It’s the icing on the cake after this week’s big funding news,” CEO Rob Taylor wrote about the award in an e-mail. [Comments from Taylor added throughout.]
Convey sells a cloud-based software to retail brands that ship products to consumers. The software has various tools for the shippers, such as package tracking, automated and custom alerts for customers, and features that help with logistical tasks like returns. The company says its data analytics can help reduce incorrectly delivered items, delays, and complaints from carriers. Taylor says Convey differentiates itself by identifying and resolving shipping issues while packages are in transit.
“We’ve always focused our software on creating better outcomes for consumers vs. simply tracking or visibility,” Taylor wrote.
Companies that pay for Convey’s services include online retailers Build.com and ShoppersChoice.com. Jet, the online retailer that was acquired by Walmart last year for $3 billion, appears to use the service too, according to a quote from Jet COO Nate Faust promoting the service on the Convey website.
Now, Convey plans start selling its product to more industries, including construction and building materials, medical devices, and pharmaceuticals. It plans to use the new funding to do that.
The company participated in the Austin Techstars program in 2014, when it was known as Pivot Freight. Techstars, the Boulder, CO-based startup accelerator, launched an Austin branch in 2013.