Which Sway Next?

We're super excited to announce that Returnmates is now Sway – which by definition, more accurately portrays the forward and reverse (logistics) motion of our business. We're also very grateful to have raised a $19.5M Series A from 7GC, Blackhorn Ventures, and our existing investors to grow the team and bring our magical shipping and returns experience to more brands and shoppers.

A quick reminder about how we got here...

When we started Returnmates over three years ago, our goal was to bring a box-less, label-less returns experience to your doorstep, regardless of where you purchased the item. But in order to provide that magical experience for shoppers at an affordable price, we needed a lot of consumer adoption.

One thing we noticed early on was that shoppers who used Returnmates were scheduling more pickups with us over time – and when we got on the phone with those same customers, they told us they were shopping more freely. Essentially, having the option for a doorstep return pickup gave them more confidence to shop online.

That's when we connected the dots. The way to make doorstep returns more ubiquitous and affordable was to sell this service to brands so that they could offer it to their shoppers. We believe that by removing this friction from the shopping experience, you'll create more loyal, high-value customers.

"We have seen a 20% increase in spending with shoppers who used Returnmates"

That view proved to be right. Across our Fortune 500 brand partners, we have seen a 20% increase in spending with shoppers who used Returnmates vs. those who sent their package back another way (i.e., the Post Office or return in-store). As we continued to service more and more customers, we realized that we could do several other things at those same doorsteps.

Today, we deliver packages from your favorite retailers, pick up the returns if they don't work out, and pick up, package, and ship goods you've sold on a marketplace. We're becoming a one-stop shop for shipping and returns. After reflecting on this, it became clear that the name "Returnmates" would need to change in order for us to better portray our services to both existing and potential customers. Hence, how we came up with Sway.

New Name, New Mission

Along with the name, our goals have also broadened. Our new mission is to transform the relationship between shoppers and brands by creating a multi-directional technology and logistics platform that's centered on customer experience. 2024 is about to be a powerful one as we bring the Sway experience to a city near you.

We'll see you at the doorstep!