Supply Chain Visibility Platform, Coros, Raises $6.1 Million Seed to Optimize Parcel Fulfillment and Increase On Time Delivery

Coros, a developer of supply chain visibility solutions for eCommerce and parcel fulfillment today announced it has raised $6.1 million in funding led by Dynamo Ventures, with participation from Susa Ventures, Greenhawk Capital, Fontinalis Partners, Engage VC, and notable supply chain disrupters Flexport and Sean Henry, CEO at Stord. The funding allows Coros to expand its engineering team to meet rising demand from both shippers, and third party logistics providers.

2020 was a banner year for eCommerce with a decade of growth experienced in a matter of three quarters and is expected to continue for the foreseeable future. Consider that in the US alone, there were 3 billion packages delivered between Thanksgiving and Christmas. The parcel industry currently leverages legacy systems that don’t provide accurate piece-level visibility that’s essential to measure actual performance against the plan. Errors that happen throughout the supply chain result in missed or late deliveries and ultimately, unhappy customers. 

Coros works to eliminate fulfillment errors by auditing and comparing actual shipments against the facility plan and providing real-time alerts enabling operators to fix issues before a delivery is missed. The Coros Platform uses advanced optics, computer vision, machine learning, and API integrations to create accurate ground truth data and connect every organization at every touchpoint in the logistics chain.

“Ecommerce fulfillment is a hands-on process built on legacy systems that, at best, estimate performance accuracy,” said Martin Hitch, CEO of Coros “and with parcel volume projected to double in five years, on time delivery performance becomes an almost impossible task. Coros is the first system designed from the ground up to fix delivery from first pick to the last mile and make sure your package gets to you on time, everytime.”

“Coros is building the visibility platform that the high-growth parcel sector deserves and needs to support long-term growth exceeding 15% this year,” said Santosh Sankar, partner at Dynamo Ventures, “Coros’ data is extremely accurate and can provide best-in-class shipment visibility but more importantly helps shippers and 3PLs monitor their fulfillment operations and take action to avoid mispicks, delays, and customer dissatisfaction that can amount to more than a billion dollars of cost at some of the world’s largest shippers. ”

About Coros
Coros fixes delivery by optimizing the supply chain with insanely accurate ground truth data that enables Shippers and Third-Party Logistics providers to improve on-time delivery. The Coros Platform uses advanced optics, computer vision and machine learning to add intelligence and provide visibility throughout the logistics chain to connect organizations from first pick to last mile. For more information, visit coros.net.

Contact Information

James Christopherson

PR Manager

Coros

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