On June 22nd 2021, Via, a mobile commerce startup for D2C brands based in the US, announced that it raised USD 15 Million in Series A funding round. This funding round was led by Footwork, a newly established venture founded by Mike Smith, former COO of Stitch Fix and Nikhil Basu Trivedi, former investor of Shasta Venture.
The round also saw the participation of Josh James, founder Domo; Ryan Smith of Qualtrics; CEO and Co-founder of Lattice Jack Altman. The company raised $4.2 million in a seed funding round which was led by Peterson Ventures.
About Via
Via was established and founded by Greg Woodfield and Tejas Konduru in 2019 having its San Francisco Bay Area, Silicon Valley, the US. Via’s solution is to aid businesses to interact with customers on the devices they frequently use.
According to Tejas Konduru, CEO, Via, the customers of Via are experiencing 15 times more investment returns when the services of the company went live. Till December the same year, the company had generated USD 51 Million in sales. He also say that the company is on track to reach USD 10 Million in annual recurring revenue in 2021
“When someone uses Shopify or BigCommerce or any of those platforms,” says Konduru, “we also connect it to Via, and it basically takes the entire shopping experience and allows customers to quickly swipe right through a menu or like through a catalogue on, for instance, Facebook Messenger. Via will also create a native iOS Android app by taking a website, cloning it into a native iOS Android app, then selling the push notification in-app chat layer. Essentially, anytime someone shops on the phone and they’re not using the browser is what Via is handling.”
“Every month, there are maybe 15,000 people who start the returns process through Via and will get a notification from a channel that Via supports. But suddenly — let’s say the customer gets the wrong T-shirt size — people start communicating with the brand. You see everything from fan appreciation to address changes to messaging about bad discount codes to where’s-my-order type exchanges. That’s something I didn’t expect,” says Konduru, who says that before raising its Series A round, Via raised $4.2 million in seed funding led by Peterson Ventures.
“I thought that people would just look at the notification and, like, move it into the abyss somewhere. Instead, people start interacting with the brand.”
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
[…] Next Article […]