Sway (formerly Returnmates) offers a two-way SMS-driven delivery and doorstep-returns platform that provides next-day and two-day delivery as well as return and exchange services. Its network of driver-partners and verification in its warehouse enable instant refunds, consolidated returns, and reduced per-unit shipping and repackaging. The product cuts the return cycle from about a week to under three days on average and gives shoppers a 30-minute delivery/pickup window with access instructions. Brands using Sway report a 66% reduction in lost-package rates and a 20% increase in repeat purchases versus legacy carriers. Since August 2021 the company expanded to 20 cities, grew revenue 14x, increased its customer base 7x, and scaled headcount from five to 100. Sway is active in California, Texas, Washington, D.C., Maryland, Virginia, New York and Florida. The company says it will use new capital to continue technology development, grow its team and expand coverage from 20 to 25 cities.

Total raised

$20M

Funding rounds

1

Latest round

Series A

Latest activity

Jan 2024