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Bulgarian logistics software start-up Rush closes 2.5 mln euro seed round

Bulgarian logistics software start-up Rush closes 2.5 mln euro seed round Rush co-founders Stanislav Stankov and Kiril Kirilov. Source: Eleven Ventures.

SOFIA (Bulgaria), April 21 (SeeNews) - Rush, a Bulgarian start-up developing shipment tracking software for the e-commerce sector, said it has secured seed funding of 2.5 million euro ($2.7 million) to boost product development and expand services to online merchants operating through Canadian e-commerce platform Shopify.

The seed round was co-led by two Bulgaria-based growth investors, Eleven Ventures and LAUNCHubVentures, Rush said in a statement on Tuesday.

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The funding round also saw participation from angel investors such as Rise.ai founder Yair Miron and pre-seed industry backers including the ex co-founder of WooCommerce Adii Pienaar, Shipbob's chief marketing officer Casey Armstrong as well as the founders of SMSBump and HeyCarson.

In the current year, the Bulgarian start-up is planning to expand its workforce and its partner network as well as add new features such as SMS and Paypal integrations and other features that could help clients tap the under-utilised post-purchase communication channel to boost revenue.

"Over the last two years we have constantly observed three repeating trends in e-commerce: every store needs to provide an Amazon-like experience; Shopify has built an incredible eco-system of merchants and developers; post-purchase communication is as crucial as customer acquisition strategy. Rush combines all three, allowing their customers to turn shipment tracking pages into marketing and upselling opportunities," LAUNCHub Ventures general partner Stanislav Sirakov said.

Set up in 2020, Rush develops shipment notification tools to support e-commerce merchants improve customer retention, drive repeat sales and tackle recent supply chain issues and unsatisfactory delivery experiences.

($ = 0.9152 euro)

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