Convey Accelerates Growth with Five Consecutive Record-Breaking Quarters
Convey achieves 140% net revenue retention (NRR) as more than half of existing customers expand Delivery Experience Management (DEM) investment
AUSTIN, Texas–(BUSINESS WIRE)–Convey, the market leader in Delivery Experience Management, today announced record revenue and client growth through the first half of 2021 as retailers across the globe turn to Convey to provide an Amazon-like delivery experience for their online customers.
As of July 2021, Convey powers exceptional customer delivery experiences for 200 of the world’s most recognizable brands in retail and logistics, including The Home Depot, Walmart, Build.com, C.H. Robinson, and Ingram Micro. The company has experienced five consecutive quarters of accelerating revenue growth and unprecedented customer acquisition with 163% increase in new logos over the past 12 months. In parallel with new bookings, more than 50% of existing clients continue to expand their investment with Convey and today the company has an exceptional 140% net revenue retention rate (NRR) as last mile emerges as a key battleground for customer experience.
“Over the past 18 months, retail shipping has been upended by the dramatic growth of ecommerce and changing consumer expectations around delivery cost, speed, and options,” said Rob Taylor, CEO of Convey. “In response, retailers have expanded their carrier networks and must now navigate a highly complex, dynamic landscape of real-time tradeoffs and opportunities that make or break the shopping experience. Convey equips retailers with real-time last mile visibility, predictive insight and decisioning to turn complexity into a competitive advantage, and our growth directly reflects our relentless commitment to both innovation and client success.”
Modernizing the last mile
Convey’s Delivery Experience Management (DEM) platform combines real-time visibility, post-purchase experiences, and advanced analytics to create a single view of the last mile and optimize each individual delivery based on cost, speed and overall experience. Today, Convey actively tracks shipments across 6 continents and 140 countries with more than 1,500 carriers integrated into their platform. On average, Convey’s clients integrate with at least 7 carriers and see immediate ROI from more efficient shipping, reduced customer service hours and improved customer satisfaction and loyalty.
Other Convey highlights include:
- Global Expansion to Support Rapid Growth: Convey has grown its team by 50% in 2021 with more than 44% of new hires from underrepresented communities. The company has plans to hire additional team members across all lines of business. In addition, Convey added Tom Muesel as VP, Global Business Development and Partnerships.
- Expanded Partner Ecosystem: Convey has doubled its partner network in the past 12 months and added new CRM/ CX integrations with Kustomer, ADA and Zendesk as it brings together all the necessary components to achieve a best-in-class ecommerce delivery experience and end-to-end supply chain visibility. Convey’s partner ecosystem includes leaders like Blue Yonder, CommerceHub, Green Mountain Technologies, Inmar, IBM and nearly 50 other providers across CRM, OMS, dropship, returns and more.
- Patented Technology: Convey was recently issued a technology patent for its data management and storage system that optimizes each individual delivery to create a better shopping experience for brands and consumers alike.
- Data Infrastructure: Convey currently tracks over 8 billion shipping events and its platform manages 70 million delivery experiences each month. The platform has generated 3.4 billion Machine Learning predictions and is the only platform that offers predictive insight into carrier performance. Convey’s data is regularly cited by Wall Street Journal, Reuters, AP, Forbes and more.
- Gartner Magic Quadrant: Convey was recognized by Gartner as a Challenger in the April 2021 Magic Quadrant for Real-Time Transportation Visibility Platform based on Convey’s completeness of vision and ability to execute.
With explosive growth in online shopping and Amazon’s market domination, brands cannot leave deliveries to chance. Convey is the market leader in Delivery Experience Management (DEM) and powers exceptional customer delivery experiences for some of the world’s most recognizable brands in retail and logistics, including The Home Depot, Walmart, Build.com, C.H. Robinson, and Ingram Micro. The company’s DEM platform combines estimated delivery date in cart, real-time visibility in-transit, post-purchase communications, and AI-driven insights to create a solution capable of perfecting last mile delivery. Founded in 2013, Convey is backed by Silverton Partners, Techstars Venture Group, RPM Ventures and based in Austin, Texas. Learn more about Convey at: www.getconvey.com.
Emily Brady for Convey