🚀 Startup Origins
RetailReady was founded by Elle Smyth and Sarah Hamer, who graduated from the YC winter 2024 cohort. They identified a $40B problem in the warehouse and shipping industry related to compliance losses. They created a tablet app to replace paper manuals that document packing instructions. Smyth and Hamer previously worked at supply chain unicorn Stord, where they bonded over their love for the supply chain industry. Smyth stated, "We call it an engineer’s playground. There is no lack of problems to be solved there."
📱 Innovative Solution
RetailReady's app targets the $40B compliance market. It reduces compliance losses by using large language models to ingest shipping manuals and computer vision to validate compliance. This digital version provides a directed workflow for workers to pack orders correctly. If workers don't pack items correctly, retailers charge brands fees known as chargebacks, which can reduce invoices by 3% on average. Smyth explained, "Brands will end up getting 3% off their invoice, on average, taken off just because these requirements are not met."
💰 Funding and Growth
Six months after launching, RetailReady has onboarded six customers, working with brands, warehouses, and retailers. They raised $3.3M in seed funding to hire additional employees and focus on product development. Wischoff Ventures led the round, joined by Y Combinator, 640 Oxford, Lombardstreet Ventures, Duke Capital Partners, and angel investors including Matt Silver, Jacob Boudreau, and Scale Angels Fund.
📊 Future Plans
RetailReady is developing a feature that uses computer vision to capture photos of the packing process to verify compliance. Smyth said, "We’re really excited about continuing from the product side, including our computer vision module where we will begin photo capturing the workers’ process so we can actually validate whether or not they did it correctly." The founders are confident in their product’s potential to save brands billions and are committed to further innovation in the supply chain industry.
Can RetailReady's app revolutionize warehouse operations?
