SANTA MONICA, Calif (December 3, 2020) — CB Insights today named Happy Returns to its inaugural Retail Tech 100 ranking, which showcases the 100 most promising B2B retail tech companies in the world.
The 2020 Retail Tech 100 cohort highlights startups reimagining the retail experience across 13 categories, from e-commerce infrastructure to supply chain automation and cashierless checkout. 21 countries represented this year include India, China, Canada, Singapore, and the United Kingdom, among others.
“We are excited for Happy Returns to be recognized by CB Insights for our innovation in online returns, and we are honored to be included among such an impressive and impactful group of e-commerce innovators,” said Happy Returns CEO and co-founder David Sobie. “The box-free, aggregated return process Happy Returns pioneered more than four years ago has now been adopted by leading online retailers and has become the industry standard for providing returns that are easy and delightful for consumers, cost-effective for retailers, and sustainable for the planet. We’re excited for the accelerating growth we see ahead for Happy Returns as we move into 2021.”
“The rate of change in retail is accelerating, and the Retail Tech 100 showcases the tech companies that are changing every facet of retail - from store automation to supply chain robotics to personalized merchandise discovery. Spanning 13 distinct technology markets, they address key challenges retailers face today while also helping them adapt and be ready for changing consumer habits," said CB Insights CEO Anand Sanwal. "The honorees also underscore the fact that the best technologies driving retail transformation may come from anywhere as they hail from 21 countries ranging from Canada to Singapore to Brazil to Sweden. As we head into 2021, we are excited to see the impact the Retail Tech 100 will have on customers, retailers, and markets."
Through an evidence-based approach, the CB Insights research team selected the Retail Tech 100 from nearly 15,000 applications and nominees, based on several factors including patent activity, business relations, investor profiles, news sentiment analysis, proprietary Mosaic scores, market potential, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
Happy Returns is the only provider of end-to-end return solutions for leading online retailers – such as Revolve, Everlane, Steve Madden, and Dressbarn —and their customers. The company’s returns software and reverse logistics offerings include: a retailer-branded online portal for returns and exchanges, box-free item drop-off via a nationwide network for more than 2,600 Return Bar locations, software support for in-store returns and returns by mail, and best-in-class reverse logistics services. Happy Returns’ box-free returns are aggregated at the point of drop-off, which significantly reduces costs for retailers and enables sustainable returns that reduce cardboard waste and greenhouse gas emissions. Retailers can elect to have Happy Returns process returns at regional Return Hubs or aggregate and ship directly to their own warehouse or third-party logistics provider for processing.
Quick facts on the 2020 Retail Tech 100:
· The 2020 Retail Tech 100 startups have raised over $14B in total equity funding across 400+ deals from 700+ unique investors. Over half of these companies have raised funding in 2020 (as of 11/20), amounting to $4.7B in total.
· The list includes 19 unicorns (companies that have reached a valuation of $1B+) focused on a diverse range of retail tech solutions.
· There are 21 early-stage startups (seed/angel and Series A) in this year’s cohort.
· The majority of these companies are based in North America (59%), followed by Asia (21%), Europe (16%), and Latin America (4%). Among countries, the US leads with 55 companies.
About Happy Returns
Happy Returns’ software and reverse logistics are the industry’s only comprehensive returns solution. Its Return Bar network of over 2,600 Return Bars nationwide allows shoppers to easily return or exchange without printing or packaging in under 60 seconds and receive refunds immediately. All items bulk-ship inside eco-friendly, reusable boxes — leveraging low carrier rates and aggregated shipping for economies of scale — to Happy Returns’ regional Return Hubs, where they are sorted, dispositioned, and processed.
Customers using Happy Returns’ full offering average 20% cost savings, a 94 NPS, 50% program adoption, and up to 2X higher exchange rates. Happy Returns guarantees 10% savings in the first year. Happy Returns is based in Los Angeles, California. Its investors include PayPal, USVP, and Upfront Ventures. For more information, visit www.happyreturns.com.
About CB Insights
At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. Serving the majority of the Fortune 100, we give companies the power to make better decisions, take control of their own future, and capitalize on change.