We started Malomo in 2018 because we believed that the future of commerce would be driven by relationships. While brands were scaling aggressively through paid acquisition, we believed the brands that would thrive over the long-term would need to focus as much on retention as they did acquisition.
We decided to focus on shipment tracking as a way to help brands drive retention because we saw first hand how much the shipping experience affected our perception of the brands we shopped at. If a package arrived late, or worse yet, never arrived, we found ourselves not blaming carriers like UPS or Fedex, but the online stores we shopped at. We looked to them to make the experience right, even though they didn’t have any control over delivery.
And then COVID struck.
Never could we have predicted how important the delivery experience would become to the livelihood of every ecommerce store. We saw carrier performance decrease by 150%-600% depending on the carrier, and shipping times doubled or more.
Shippagedon was in full effect.
The impact was dramatic and swift – we saw consumer traffic to our tracking pages increase 11-fold.
Providing a world-class post-purchase experience became a strategic necessity. We were fortunate to help hundreds of the fastest growing merchants like Summersalt, Rhone, Magic Spoon, and Bokksu control their post-purchase experience. We’ve tracked more than a billion dollars in ecommerce orders in the process.
We closed $5 million in new growth capital in order to continue to empower merchants to control their delivery experience and turn it into a customer retention asset.
Our round was led again by the incredible team at Base10, with participation from our existing investors Harlem Capital, Hyde Park Venture Partners, High Alpha, and a great group of other investors.
We’ve got really ambitious goals with this round. Throughout the year, we heard our merchants share many challenges and opportunities around managing post-purchase and we’re using this round to build the best retention platform out there.
Our priorities are to:
Help merchants dive deep into their delivery performance with carrier analytics
Expand support for international carriers
Expand our integrations with more ecom stack partners
To hit these goals, we plan on doubling the team to 40 (we’ve already doubled since the start of the year).
I want to thank our amazing teammates, customers, partners, investors and friends for all of your support. We couldn’t be more thrilled to keep building.
- Yaw Aning, Cofounder & CEO