Why I Joined the ReturnLogic Team
I became the Chief Financial Officer at ReturnLogic because of its people, product, and potential. I have worked with early-stage technology companies as an investor or advisor for much of the past decade.
In my time as a Principal at Rittenhouse Ventures, a Philadelphia-based venture firm, I saw hundreds of business plans, compiled dozens of investment memos, and oversaw many direct investments.
Through my growth advisory practice, Waterfall Advisory LLC, I supported several early-stage businesses in Pennsylvania with financial management and equity fundraising.
In all that time, I came across few companies, if any, that possess what ReturnLogic has consistently demonstrated.
The People
Most major life decisions are driven by the people involved.
I first met Peter Sobotta, the CEO of ReturnLogic, several years ago at the Penn State Venture and IP Conference, and I immediately knew he was a leader with a strong vision. Peter was a clear domain expert in reverse logistics and ecommerce returns, having managed his own warehouse operations and coordinated logistics through the Navy.
Peter gave me a demo of the first version of the ReturnLogic software, built by a small team of talented engineers. What he showed me was a slick platform for ecommerce retailers to manage and analyze returns.
Peter had done a lot with a little, and I was impressed.
I stayed close with Peter for the next few years, checking in with him routinely and observing a clear pattern of systematic growth. The customer base grew, the platform expanded, and the team was coming together.
Last summer, Peter asked me to formally begin supporting the company as an advisor to shape the financial strategy and build the materials necessary to raise institutional venture capital. I immediately felt at home with the intellectual curiosity and horsepower around the office.
The ReturnLogic management team has entrepreneurship in its DNA, and the whole team displays a drive to make the best solution in a growing market. It’s a great feeling to be officially a part of this team.
The Product
ReturnLogic’s solution allows ecommerce retailers to turn customer returns into a competitive advantage, not just a cost.
Return management is a fundamental component of an ecommerce business. Shoppers expect a clean and transparent process when refunding or exchanging a product.
Yet, a shocking number of retailers use manual return workflows and have to spend countless hours on customer service. We equip brands with a return management solution designed for retailers’ unique operational needs and customer service approaches.
Our brands recognize the value of a thoughtful return strategy as a core element of their business. We increasingly partner with reverse logistics solutions, inventory management systems, and shipping services to provide a comprehensive platform for all ecommerce retailers.
I believe in ReturnLogic’s fundamental goal of supporting brands with any return policy, anywhere, on any platform.
The Potential
The transition from brick-and-mortar to ecommerce has been underway for a decade. Ecommerce is likely the new norm amid this global pandemic. A quick glance at an Amazon or Shopify stock chart will tell you where investors believe the trends are headed.
I recognize the loss of small neighborhood shops as ecommerce storefronts emerge. I also value the opportunity for any brand with excellent products to reach customers anywhere.
The ecommerce ecosystem is maturing to allow any retailer to begin anew online or supplement their brick-and-mortar presence. But there’s still massive exploration and learning to be done on how to transition a first-time visitor into a loyal customer.
While we solve the operational issues related to return, we enable retailers to make sound business decisions through the insights we generate about their products and shoppers. Data analytics are the backbone of ReturnLogic. We aim to tell a story that no one else can.
As the next few years play out, we’re all in for quite a ride into unknown territory. I joined a team that’s trying to make that journey more enjoyable for us all.
