July 25, 2022, OMAHA, Nebraska Recommerce software, and service firm Rush ReCommerce has completed a USD 12.9 million Series A funding. The business plans to improve its solution and hasten the expansion of its e-commerce network with freshly acquired funds. With the assistance of current investors and Advantage Capital, Beringea led the round.
What the founder has to say:
Doug Nielsen, the CEO, and co-founder of Rush ReCommerce, has specialized in home furnishings e-commerce for most of his career. “For those who engage in online commerce, returns are a key issue. The returns hurt the merchants’ profitability and customer satisfaction. We’re trying to hammer those dents out. We’re thrilled to collaborate with like-minded financiers devoted to supporting our objective and aware of this developing issue.”
What the investors have to say:
Damon Rawie, Managing Director, Advantage Capital:
“Rush ReCommerce is a fantastic illustration of the companies we want to promote. The business’s distinctive business model alters how items are distributed to new clients and circulated within existing markets. This model has a ton of room to expand, and we are excited to watch it do so. In addition, we are thrilled to see the business grow in an area of Omaha that will substantially profit from the extra jobs the business’s development will bring.
William Blake III, lead investor of the round and partner at Beringea:
The market needs that Rush ReCommerce’s solutions address will only increase as brick-and-mortar stores lose business to online retailers, especially for significant purchases of household products. Rush ReCommerce provides brands with a platform to successfully achieve sustainability goals by reusing large products that would otherwise be disposed of in landfills.
More about the company:
Rush ReCommerce was established to address the issue of widespread e-commerce returns. Doug Nielsen, Julie Mahloch, and Jeff DeRuiter sought to develop a long-lasting remedy for one of the most pressing problems in e-commerce—returns and overstocks.
Rush ReCommerce has developed a system with a real relationship between brands and consumers to enable a circular economy of recovery for returns. Partners are given a chance to resale products for a higher recovery value thanks to proprietary software and processing. With over 150 manufacturers and brands on the platform, Rush ReCommerce is well on its way to being the industry leader in aiding in resolving this ever-expanding problem.
For e-commerce returns and surplus inventory of home goods, Rush ReCommerce has created a complete solution. Due to expensive shipping and processing costs, most returns, particularly large products, get delayed in warehouses or might even be thrown away. The technology offered by Rush ReCommerce allows products to be returned directly to Rush’s network, where they are processed using specialist software that assesses them for higher recovery. Through its primary online platform, The Rush Market, the company is setting the standard for the online resale of open box home products.
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