Simply put, I became the Chief Financial Officer at ReturnLogic because of its people, product, and potential.For much of the past decade, I have worked with early-stage technology companies as an investoror advisor.
In my time as aPrincipal at Rittenhouse Ventures, a Philadelphia-based venture firm, I saw hundreds of business plans, compiled dozens of investment memos, and oversaw manydirect investments.
Through my growth advisory practice, Waterfall Advisory LLC, I supported several early-stage businesses in Pennsylvania with financial management and equity fundraising.
In all that time, I came across few companies, if any, that possess what ReturnLogichas consistently demonstrated.
Most major life decisions aredriven by the people involved.
I first met Peter Sobotta, the CEO of ReturnLogic, several years ago at the Penn State Venture and IP Conference, and knew immediately that he was a special leader with a strong vision.Peter was a clear domain expert in reverse logistics and ecommerce returns, having managed his own warehouse operations and coordinated logistics through the Navy.
Peter gave me a demo of the first version of the ReturnLogicsoftware, built by a very small team of talented engineers.What he showed mewas a slick platform for ecommerce retailers to easily manage and analyze returns.
Peter had done a lot with a little, and I was impressed.
I stayed close with Peter for the next few years, checking in with him routinely and observing a clear pattern of systematic growth. The customer base grew, the platform expanded, and the team was coming together.
Last summer, Peter asked me to formally begin supporting the company as an advisor to shape the financial strategy and build the materials necessary to raise institutional venture capital. I immediately felt at home with the intellectual curiosity and horsepower around the office.
The ReturnLogic management team has entrepreneurship in its DNA, and the whole team displays a drive to make the best solution in a growing market. It's a great feeling to officially be a part of this team.
ReturnLogic’s solution allows ecommerce retailers to turn customer returns into a competitive advantage, not just a cost.
Returns management is a fundamental component of an ecommerce business, as shoppers expect a clean and transparent process when refunding or exchanging a product.
Yet, a shocking number of retailers use manual return workflows and are forced to spend countless hours on customer service.We equip brands with a returns management solution designed for retailers' unique operational needs and customer service approaches.
Our brandsrecognize the value of a thoughtful returnsstrategy as a core element of their business. We increasingly partner with reverse logistics solutions, inventory management systems, and shipping services to be a comprehensive platformfor all ecommerce retailers.
I believe in ReturnLogic’sfundamental goal of supporting brands with any return policy, anywhere, on any platform.
The transition from brick-and-mortar to ecommerce has been underway for a decade. Ecommerce is likely the new norm amid this global pandemic. A quick glance at an Amazon or Shopify stock chart will tell you where investors believe the trends are headed.
I recognize the loss of small neighborhood shops as ecommerce storefronts emerge. I also value the opportunity for any brand with excellent products to reach customers anywhere.
The ecommerce ecosystem is maturing to allow for any retailer to begin anew online or supplement a brick-and-mortar presence. But there is still massive exploration and learning to be done on how to streamline the flow from first-time visitor to loyal customer.
While we solve the operational issues related to returns, we enable retailers to make sound business decisions through the insights we generate about their products and shoppers. Data and analytics are the backbone of ReturnLogic. We aim to tell a story that no one else can.
As I see the next few years play out, we’re all in for quite a ride into unknown territory. I joined a team that is trying tomake that journey more enjoyable for us all.